Wealth Enhancement Advisory Services LLC Buys 348,114 Shares of Schwab Municipal Bond ETF $SCMB

Wealth Enhancement Advisory Services LLC grew its stake in shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 245.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 489,805 shares of the company’s stock after purchasing an additional 348,114 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.45% of Schwab Municipal Bond ETF worth $12,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC boosted its holdings in shares of Schwab Municipal Bond ETF by 1,901.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,547,955 shares of the company’s stock worth $39,643,000 after purchasing an additional 1,470,600 shares during the period. JPMorgan Chase & Co. increased its holdings in Schwab Municipal Bond ETF by 600.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 902,316 shares of the company’s stock valued at $23,108,000 after purchasing an additional 773,503 shares during the period. Jane Street Group LLC raised its position in Schwab Municipal Bond ETF by 143.5% during the 2nd quarter. Jane Street Group LLC now owns 522,022 shares of the company’s stock valued at $13,145,000 after purchasing an additional 307,645 shares during the last quarter. Bank of America Corp DE raised its position in Schwab Municipal Bond ETF by 32.8% during the 3rd quarter. Bank of America Corp DE now owns 602,985 shares of the company’s stock valued at $15,442,000 after purchasing an additional 148,996 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Schwab Municipal Bond ETF by 33.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 428,185 shares of the company’s stock worth $10,966,000 after buying an additional 107,943 shares during the period.

Schwab Municipal Bond ETF Stock Down 0.2%

Shares of SCMB stock opened at $25.35 on Friday. The stock has a fifty day moving average of $25.87 and a 200 day moving average of $25.80. Schwab Municipal Bond ETF has a 52 week low of $24.21 and a 52 week high of $26.20.

Schwab Municipal Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.0784 per share. 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) dividend on an annualized basis and a dividend yield of 3.7%.

Schwab Municipal Bond ETF 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.