JPMorgan Chase & Co. Boosts Stake in Schwab Municipal Bond ETF $SCMB

JPMorgan Chase & Co. grew its holdings in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 600.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 902,316 shares of the company’s stock after purchasing an additional 773,503 shares during the period. JPMorgan Chase & Co.’s holdings in Schwab Municipal Bond ETF were worth $23,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SCMB. IFP Advisors Inc increased its position in shares of Schwab Municipal Bond ETF by 289.2% during the 3rd quarter. IFP Advisors Inc now owns 12,805 shares of the company’s stock worth $328,000 after purchasing an additional 9,515 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in Schwab Municipal Bond ETF by 23.3% in the third quarter. United Capital Financial Advisors LLC now owns 569,983 shares of the company’s stock valued at $14,597,000 after buying an additional 107,707 shares during the last quarter. Susquehanna International Group LLP acquired a new position in Schwab Municipal Bond ETF in the third quarter valued at about $283,000. Northwestern Mutual Wealth Management Co. boosted its stake in Schwab Municipal Bond ETF by 2,771.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 36,117 shares of the company’s stock worth $925,000 after buying an additional 34,859 shares during the period. Finally, Mariner LLC increased its position in shares of Schwab Municipal Bond ETF by 96.3% during the third quarter. Mariner LLC now owns 16,095 shares of the company’s stock valued at $412,000 after acquiring an additional 7,895 shares during the last quarter.

Schwab Municipal Bond ETF Price Performance

Schwab Municipal Bond ETF stock opened at $25.35 on Wednesday. The company’s 50 day simple moving average is $25.90 and its 200-day simple moving average is $25.80. Schwab Municipal Bond ETF has a 1 year low of $24.21 and a 1 year high of $26.20.

Schwab Municipal Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were issued a $0.0784 dividend. This is a boost from Schwab Municipal Bond ETF’s previous monthly dividend of $0.07. The ex-dividend date was Monday, March 2nd. This represents a c) annualized dividend and a yield of 3.7%.

About Schwab Municipal Bond ETF

The Schwab Municipal Bond ETF (SCMB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of USD-denominated, investment grade tax-exempt debt, issued by US states and territories with varying maturities. SCMB was launched on Oct 12, 2022 and is managed by Charles Schwab.