Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Strong Trading Volume – What’s Next?

Shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) saw strong trading volume on Wednesday . 10,639,683 shares traded hands during mid-day trading, an increase of 559% from the previous session’s volume of 1,614,800 shares.The stock last traded at $24.2940 and had previously closed at $24.51.

Schwab Municipal Bond ETF Stock Performance

The business has a 50-day simple moving average of $25.15 and a two-hundred day simple moving average of $25.47.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in 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 during the last quarter. Charles Schwab Trust Co grew its holdings in shares of Schwab Municipal Bond ETF by 11.1% in 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 in the last quarter. Fort Point Capital Partners LLC increased its position in shares of Schwab Municipal Bond ETF by 5.9% in the fourth 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 raised its holdings 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 worth $7,661,000 after acquiring an additional 205,015 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings 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 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.