Envestnet Asset Management Inc. Boosts Stake in Schwab Municipal Bond ETF $SCMB

Envestnet Asset Management Inc. lifted its holdings in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 33.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 428,185 shares of the company’s stock after acquiring an additional 107,943 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Schwab Municipal Bond ETF were worth $10,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CWM LLC purchased a new position in Schwab Municipal Bond ETF in the third quarter worth $57,000. Raymond James Financial Inc. bought a new stake in shares of Schwab Municipal Bond ETF during the 2nd quarter worth $110,000. Chapman Financial Group LLC bought a new stake in shares of Schwab Municipal Bond ETF during the 2nd quarter worth $146,000. Howe & Rusling Inc. purchased a new position in shares of Schwab Municipal Bond ETF in the 2nd quarter worth about $206,000. Finally, Burling Wealth Partners LLC bought a new position in Schwab Municipal Bond ETF during the second quarter valued at about $217,000.

Schwab Municipal Bond ETF Stock Performance

NYSEARCA SCMB opened at $26.06 on Thursday. Schwab Municipal Bond ETF has a 52-week low of $24.21 and a 52-week high of $26.07. The company has a 50-day simple moving average of $25.86 and a 200 day simple moving average of $25.67.

Schwab Municipal Bond ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, February 6th. Investors of record on Monday, February 2nd were issued a $0.0721 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, February 2nd.

Schwab Municipal Bond ETF 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.