Welcome to our dedicated page for The Charles Schwab Family of Funds - Schwab Municipal Money Fund news (Ticker: SWTXX), a resource for investors and traders seeking the latest updates and insights on The Charles Schwab Family of Funds - Schwab Municipal Money Fund stock.
The Charles Schwab Family of Funds offers the Schwab Municipal Money Fund (symbol: SWTXX) as a reliable option for investors seeking tax-exempt income with low risk. This fund primarily invests in high-quality municipal securities, providing stability and potential tax benefits to investors. With a focus on capital preservation and liquidity, Schwab Municipal Money Fund is a suitable choice for investors looking to park cash or earn tax-exempt income.
The Charles Schwab Corporation's Board of Directors has declared a dividend of $35.00 per share on its 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend is payable on February 1, 2022 to stockholders of record as of the close of business on January 14, 2022. The company maintains substantial financial health, boasting approximately $7.98 trillion in client assets and managing over 32.8 million active brokerage accounts.
Schwab Asset Management has expanded its fixed income separately managed account strategies for clients, introducing five new Wasmer Schroeder Strategies, including two positive impact options: Positive Impact Bond (PIBX) and Positive Impact Tax Exempt (PIFI) strategies. These strategies focus on bonds financing projects with positive social and environmental impacts, as opposed to relying solely on third-party ESG ratings. Other additions include higher-yielding strategies: Intermediate Strategic Tax Exempt (ISTEFI), Intermediate IG Credit (ITTX+), and Multi-Sector Income (MITX). This expansion enhances Schwab's commitment to providing diverse fixed income choices.
Charles Schwab's latest SDBA Indicators Report reveals a 12.8% year-over-year increase in average account balances across self-directed brokerage accounts, reaching
The Charles Schwab Corporation reported strong metrics in its Monthly Activity Report for October 2021. The company attracted $36.8 billion in core net new assets from clients, with net new assets totaling $35.9 billion when excluding mutual fund clearing. Total client assets reached $7.98 trillion, marking a 36% increase year-over-year and a 5% rise from September 2021. Average margin balances were noted at $83.8 billion, up 74% compared to October 2020 and 3% higher than the previous month.
Schwab Advisor Services recently hosted a two-day virtual Technology Forum for over 150 independent advisor technology professionals, focusing on the integration of Schwab and TD Ameritrade's custody platforms ahead of a planned conversion in 2023. Key updates included advancements in third-party technology integrations, with Schwab currently partnering with over 180 technology products. The forum highlighted the importance of these integrations for financial planning and compliance as API usage by advisors grew over 30% since 2020. Schwab emphasizes its commitment to supporting technology partners during the transition.
The Charles Schwab Corporation's Board of Directors has declared a quarterly cash dividend of
Stockholders of record as of
Schwab Advisor Services has launched a redesigned user interface and functional enhancements for iRebal®, enhancing the portfolio management experience for independent advisors.
The new features include a dashboard view for quicker access to portfolio information, a grid interface for better data flexibility, improved navigation for editing and reporting, and a Model Market Center widget for alerts on portfolio changes. These updates aim to increase operational efficiency at no additional charge to users, with access currently available to TD Ameritrade Institutional advisors and planned for Schwab Advisor Services clients in early 2023.
The Charles Schwab Corporation reported record net income of $1.5 billion for Q3 2021, a 119% increase from $698 million in Q3 2020. Total client assets reached $7.61 trillion, up 14% year-to-date. Core net new assets rose 28% sequentially to $139 billion. The firm opened over a million new brokerage accounts, bringing the total to 6 million in 2021. Adjusted diluted earnings per share rose 65% to $0.84. Despite an 8% decline in overall trading activity, daily average trades remained strong at 5.5 million.
FAQ
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