Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Significant Drop in Short Interest

Schwab Municipal Bond ETF (NYSEARCA:SCMB) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 12,166 shares, a decrease of 99.9% from the October 15th total of 8,234,912 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 3,812,350 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Schwab Municipal Bond ETF

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Schwab Municipal Bond ETF by 3,354.2% in the 1st quarter. Bank of America Corp DE now owns 21,959,386 shares of the company’s stock valued at $559,525,000 after buying an additional 21,323,660 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new position in Schwab Municipal Bond ETF in the third quarter worth approximately $53,927,000. Vise Technologies Inc. acquired a new position in Schwab Municipal Bond ETF in the third quarter worth approximately $5,893,000. Quantinno Capital Management LP raised its position in Schwab Municipal Bond ETF by 214.3% during the first quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock valued at $7,661,000 after acquiring an additional 205,015 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in Schwab Municipal Bond ETF by 956.6% during the second quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock valued at $5,723,000 after acquiring an additional 200,658 shares in the last quarter.

Schwab Municipal Bond ETF Stock Down 0.4%

SCMB stock traded down $0.10 during midday trading on Tuesday, reaching $25.02. The company had a trading volume of 2,253,884 shares, compared to its average volume of 2,143,908. Schwab Municipal Bond ETF has a 1 year low of $23.81 and a 1 year high of $26.20. The company has a 50 day moving average of $24.53 and a two-hundred day moving average of $25.37.

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.