Schwab Municipal Bond ETF Stock Scheduled to Split on Friday, October 11th (NYSEARCA:SCMB)

Schwab Municipal Bond ETF (NYSEARCA:SCMB)’s stock is going to split on Friday, October 11th. The 2-1 split was announced on Wednesday, September 25th. The newly minted shares will be distributed to shareholders after the market closes on Thursday, October 10th.

Schwab Municipal Bond ETF Price Performance

SCMB traded down $0.05 during trading hours on Thursday, reaching $52.42. 49,482 shares of the company’s stock traded hands, compared to its average volume of 51,759. The firm has a 50-day moving average price of $52.17 and a 200 day moving average price of $51.78. Schwab Municipal Bond ETF has a 52-week low of $48.56 and a 52-week high of $52.74.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SCMB. VitalStone Financial LLC grew its stake in Schwab Municipal Bond ETF by 74.0% in the 4th quarter. VitalStone Financial LLC now owns 1,176 shares of the company’s stock worth $62,000 after acquiring an additional 500 shares in the last quarter. CAP Partners LLC bought a new position in Schwab Municipal Bond ETF in the second quarter worth approximately $255,000. TSA Wealth Managment LLC purchased a new position in Schwab Municipal Bond ETF during the 2nd quarter worth $355,000. Maia Wealth LLC bought a new stake in Schwab Municipal Bond ETF during the 2nd quarter valued at $422,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Schwab Municipal Bond ETF by 78.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,175 shares of the company’s stock worth $430,000 after buying an additional 3,600 shares during the period.

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.