Schwab Municipal Bond ETF (NYSEARCA:SCMB) Reaches New 1-Year Low – Should You Sell?

Shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.56 and last traded at $24.5550, with a volume of 4947255 shares changing hands. The stock had previously closed at $24.63.

Schwab Municipal Bond ETF Stock Down 0.3%

The stock has a 50 day moving average price of $25.29 and a 200 day moving average price of $25.54.

Institutional Investors Weigh In On Schwab Municipal Bond ETF

A number of institutional investors and hedge funds have recently bought and sold shares of SCMB. Bank of America Corp DE boosted its position in shares of Schwab Municipal Bond ETF by 3,354.2% during 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 purchasing an additional 21,323,660 shares in the last quarter. Charles Schwab Trust Co lifted its position in shares of Schwab Municipal Bond ETF by 11.1% during the 2nd quarter. Charles Schwab Trust Co now owns 1,055,202 shares of the company’s stock valued at $27,245,000 after acquiring an additional 105,691 shares during the last quarter. 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 valued at $19,775,000 after acquiring an additional 42,573 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Schwab Municipal Bond ETF by 214.3% during the 1st quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock worth $7,661,000 after acquiring an additional 205,015 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Schwab Municipal Bond ETF by 956.6% during the 2nd quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock worth $5,723,000 after acquiring an additional 200,658 shares in the last quarter.

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.