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

Schwab Municipal Bond ETF (NYSEARCA:SCMB) saw strong trading volume on Wednesday . Approximately 10,300,433 shares changed hands during trading, an increase of 573% from the previous session’s volume of 1,531,583 shares.The stock last traded at $24.5350 and had previously closed at $24.54.

Schwab Municipal Bond ETF Price Performance

The company has a 50-day moving average of $25.22 and a 200 day moving average of $25.50.

Hedge Funds Weigh In On Schwab Municipal Bond ETF

Large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in Schwab Municipal Bond ETF by 3,354.2% in the first 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 during the period. Quantinno Capital Management LP boosted its stake in shares of 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 valued at $7,661,000 after purchasing an additional 205,015 shares during the period. Citadel Advisors LLC boosted its stake in shares of Schwab Municipal Bond ETF by 956.6% during the second quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock valued at $5,723,000 after purchasing an additional 200,658 shares during the period. Ferguson Wellman Capital Management Inc. bought a new position in shares of Schwab Municipal Bond ETF in the first quarter worth about $4,552,000. Finally, Waverly Advisors LLC grew its holdings in shares of Schwab Municipal Bond ETF by 606.5% in the first quarter. Waverly Advisors LLC now owns 144,146 shares of the company’s stock worth $3,673,000 after purchasing an additional 123,744 shares during 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.