Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Large Decline in Short Interest

Schwab Municipal Bond ETF (NYSEARCA:SCMB) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 237,173 shares, a decline of 34.9% from the June 30th total of 364,434 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 872,105 shares, the days-to-cover ratio is presently 0.3 days.

Schwab Municipal Bond ETF Stock Down 0.2%

SCMB stock traded down $0.04 during midday trading on Friday, reaching $25.29. 846,942 shares of the company’s stock traded hands, compared to its average volume of 1,247,501. Schwab Municipal Bond ETF has a 52-week low of $24.95 and a 52-week high of $26.20. The stock’s 50-day moving average is $25.63 and its 200 day moving average is $25.72.

Institutional Trading of Schwab Municipal Bond ETF

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in Schwab Municipal Bond ETF in the first quarter worth about $1,248,000. Jane Street Group LLC increased its holdings in Schwab Municipal Bond ETF by 125.0% in the 1st quarter. Jane Street Group LLC now owns 214,377 shares of the company’s stock worth $5,439,000 after acquiring an additional 119,105 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Schwab Municipal Bond ETF by 165.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 128,813 shares of the company’s stock worth $3,244,000 after acquiring an additional 80,303 shares in the last quarter. Peapack Gladstone Financial Corp bought a new stake in Schwab Municipal Bond ETF during the 2nd quarter worth approximately $569,000. Finally, Quantinno Capital Management LP bought a new stake in Schwab Municipal Bond ETF during the 2nd quarter worth approximately $2,311,000.

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.