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

Schwab Municipal Bond ETF (NYSEARCA:SCMB)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $23.83 and last traded at $23.8860, with a volume of 283081 shares traded. The stock had previously closed at $24.06.

Schwab Municipal Bond ETF Price Performance

The company’s 50-day moving average is $24.82 and its 200 day moving average is $25.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in Schwab Municipal Bond ETF during the 2nd quarter valued at about $50,000. Root Financial Partners LLC lifted its position in shares of Schwab Municipal Bond ETF by 41.9% in the first quarter. Root Financial Partners LLC now owns 4,354 shares of the company’s stock worth $111,000 after purchasing an additional 1,285 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Schwab Municipal Bond ETF during the first quarter worth approximately $133,000. Integrity Investment Advisors LLC purchased a new position in Schwab Municipal Bond ETF during the fourth quarter valued at approximately $212,000. Finally, RMG Wealth Management LLC purchased a new position in Schwab Municipal Bond ETF during the first quarter valued at approximately $237,000.

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.