Gemmer Asset Management LLC Boosts Stake in Schwab Municipal Bond ETF $SCMB

Gemmer Asset Management LLC raised its holdings in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 33.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,831 shares of the company’s stock after purchasing an additional 3,491 shares during the quarter. Gemmer Asset Management LLC’s holdings in Schwab Municipal Bond ETF were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCMB. AE Wealth Management LLC raised its position in Schwab Municipal Bond ETF by 394.9% in the first quarter. AE Wealth Management LLC now owns 970 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares during the period. Allworth Financial LP purchased a new stake in Schwab Municipal Bond ETF in the first quarter valued at $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Schwab Municipal Bond ETF in the first quarter valued at $32,000. Harbour Investments Inc. raised its position in Schwab Municipal Bond ETF by 811.1% in the first quarter. Harbour Investments Inc. now owns 4,592 shares of the company’s stock valued at $116,000 after purchasing an additional 4,088 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Schwab Municipal Bond ETF in the second quarter valued at $139,000.

Schwab Municipal Bond ETF Stock Performance

NYSEARCA:SCMB opened at $25.61 on Friday. Schwab Municipal Bond ETF has a 52 week low of $24.21 and a 52 week high of $26.30. The stock’s fifty day moving average is $25.30 and its two-hundred day moving average is $25.15.

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.