Schwab Municipal Bond ETF (NYSEARCA:SCMB) Hits New 1-Year Low – What’s Next?

Schwab Municipal Bond ETF (NYSEARCA:SCMB) reached a new 52-week low on Monday . The stock traded as low as $24.48 and last traded at $24.5860, with a volume of 2014235 shares changing hands. The stock had previously closed at $24.56.

Schwab Municipal Bond ETF Stock Performance

The stock’s 50 day simple moving average is $25.20 and its 200-day simple moving average is $25.49.

Institutional Investors Weigh In On Schwab Municipal Bond ETF

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Schwab Municipal Bond ETF in the second quarter worth $50,000. Root Financial Partners LLC raised its stake in shares of Schwab Municipal Bond ETF by 184.2% in the fourth quarter. Root Financial Partners LLC now owns 3,069 shares of the company’s stock valued at $79,000 after acquiring an additional 1,989 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Schwab Municipal Bond ETF by 1,818.2% in the fourth quarter. Clearstead Advisors LLC now owns 3,261 shares of the company’s stock valued at $84,000 after purchasing an additional 3,091 shares during the period. Friedenthal Financial purchased a new position in Schwab Municipal Bond ETF in the first quarter valued at $133,000. Finally, Larson Financial Group LLC grew its stake in Schwab Municipal Bond ETF by 426.7% during the 4th quarter. Larson Financial Group LLC now owns 5,235 shares of the company’s stock worth $135,000 after purchasing an additional 4,241 shares in the last quarter.

Schwab Municipal Bond ETF Company Profile

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.