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

Schwab Municipal Bond ETF (NYSEARCA:SCMB) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 201,867 shares, a growth of 62.9% from the July 30th total of 123,945 shares. Based on an average daily trading volume, of 1,214,644 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Schwab Municipal Bond ETF

Hedge funds have recently added to or reduced their stakes in the stock. Wescott Financial Advisory Group LLC purchased a new stake in Schwab Municipal Bond ETF in the 4th quarter valued at about $794,000. Fort Point Capital Partners LLC lifted its position in shares of Schwab Municipal Bond ETF by 5.9% during the 4th quarter. Fort Point Capital Partners LLC now owns 762,050 shares of the company’s stock worth $19,775,000 after buying an additional 42,573 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Schwab Municipal Bond ETF by 32.1% in the 4th quarter. Manning & Napier Advisors LLC now owns 107,109 shares of the company’s stock worth $2,759,000 after buying an additional 26,020 shares during the last quarter. NewCorp Financial Services Inc. purchased a new position in shares of Schwab Municipal Bond ETF in the 4th quarter worth approximately $905,000. Finally, Stolz & Associates PS bought a new position in shares of Schwab Municipal Bond ETF in the fourth quarter valued at approximately $903,000.

Schwab Municipal Bond ETF Stock Down 0.2%

Shares of NYSEARCA SCMB traded down $0.05 during mid-day trading on Monday, reaching $25.13. 2,519,354 shares of the company’s stock traded hands, compared to its average volume of 1,282,523. The business has a 50-day simple moving average of $25.48 and a 200 day simple moving average of $25.62. Schwab Municipal Bond ETF has a 1-year low of $25.02 and a 1-year high of $26.20.

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.