JPMorgan Chase & Co. Buys 773,503 Shares of Schwab Municipal Bond ETF $SCMB

JPMorgan Chase & Co. raised its stake in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 600.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 902,316 shares of the company’s stock after acquiring an additional 773,503 shares during the quarter. JPMorgan Chase & Co.’s holdings in Schwab Municipal Bond ETF were worth $23,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Breakwater Capital Group grew its position in shares of Schwab Municipal Bond ETF by 13.6% in the third quarter. Breakwater Capital Group now owns 9,307 shares of the company’s stock valued at $238,000 after purchasing an additional 1,113 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Schwab Municipal Bond ETF by 33.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 428,185 shares of the company’s stock valued at $10,966,000 after purchasing an additional 107,943 shares during the period. Thrivent Financial for Lutherans acquired a new position in Schwab Municipal Bond ETF in the 3rd quarter valued at $266,000. Donaldson Capital Management LLC increased its position in Schwab Municipal Bond ETF by 71.4% during the 3rd quarter. Donaldson Capital Management LLC now owns 71,792 shares of the company’s stock worth $1,839,000 after buying an additional 29,905 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of Schwab Municipal Bond ETF by 1,901.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,547,955 shares of the company’s stock worth $39,643,000 after buying an additional 1,470,600 shares in the last quarter.

Schwab Municipal Bond ETF Price Performance

Shares of Schwab Municipal Bond ETF stock opened at $26.19 on Monday. The firm has a 50-day moving average of $25.92 and a 200-day moving average of $25.73. Schwab Municipal Bond ETF has a 52-week low of $24.21 and a 52-week high of $26.20.

Schwab Municipal Bond ETF Announces Dividend

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

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.