Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Large Volume Increase – Time to Buy?

Schwab Municipal Bond ETF (NYSEARCA:SCMB) shares saw strong trading volume on Friday . 837,007 shares changed hands during trading, a decline of 33% from the previous session’s volume of 1,241,313 shares.The stock last traded at $25.43 and had previously closed at $25.42.

Schwab Municipal Bond ETF Price Performance

The company’s 50 day moving average is $25.58 and its two-hundred day moving average is $25.68.

Institutional Trading of Schwab Municipal Bond ETF

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings 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 worth $559,525,000 after purchasing an additional 21,323,660 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Schwab Municipal Bond ETF by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,617,520 shares of the company’s stock valued at $1,690,307,000 after purchasing an additional 5,793,290 shares in the last quarter. Jane Street Group LLC lifted its position in Schwab Municipal Bond ETF by 143.5% in the second quarter. Jane Street Group LLC now owns 522,022 shares of the company’s stock worth $13,145,000 after purchasing an additional 307,645 shares during the period. Quantinno Capital Management LP lifted its position in Schwab Municipal Bond ETF by 214.3% in the first quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock worth $7,661,000 after purchasing an additional 205,015 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Schwab Municipal Bond ETF in the first quarter worth $4,552,000.

Schwab Municipal Bond ETF Company Profile

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.