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The Charles Schwab Family of Funds - Schwab Municipal Money Fund - SWTXX STOCK NEWS

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.

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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.

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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.

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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 $341,068 despite a 2.0% decrease from the previous quarter. The report indicates a steady trading volume with an average of 13.1 trades per account. Equities made up 36% of participant assets, with Apple leading individual holdings at 10.6%. Advised accounts boast higher balances of $542,365 compared to non-advised accounts.

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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.

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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.

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The Charles Schwab Corporation's Board of Directors has declared a quarterly cash dividend of $0.18 per common share, payable on November 26, 2021.

Stockholders of record as of November 12, 2021 will receive this dividend. Additionally, dividends were declared for several series of preferred stock, with payment scheduled for December 1, 2021. The company manages approximately $7.61 trillion in client assets and maintains a strong financial position with 32.7 million active brokerage accounts.

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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.

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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.

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FAQ

What is the investment focus of the Schwab Municipal Money Fund?

The fund primarily invests in high-quality municipal securities to provide stability and potential tax benefits to investors.

What benefits does the Schwab Municipal Money Fund offer to investors?

Investors can benefit from tax-exempt income, capital preservation, and liquidity by investing in this fund.

Who is the target audience for the Schwab Municipal Money Fund?

Investors seeking tax-exempt income with low risk and a focus on capital preservation may find this fund appealing.

What sets the Schwab Municipal Money Fund apart from other investment options?

The fund's emphasis on high-quality municipal securities and tax-exempt income distinguishes it as a reliable choice for investors.

How does the Schwab Municipal Money Fund help investors manage their cash?

By offering stability, liquidity, and the potential for tax benefits, the fund provides a suitable option for investors looking to park cash.

What is the symbol for the Schwab Municipal Money Fund?

The symbol for this fund is SWTXX, representing its identification in the stock market.

Can investors expect consistent performance from the Schwab Municipal Money Fund?

While past performance is not indicative of future results, the fund's focus on high-quality securities aims to provide stability for investors.

How does the Schwab Municipal Money Fund support investors' financial goals?

Investors can use this fund to earn tax-exempt income, preserve capital, and maintain liquidity, aligning with their financial objectives.

What type of securities does the Schwab Municipal Money Fund primarily invest in?

The fund primarily invests in municipal securities that are considered high quality and offer potential tax benefits to investors.

Is the Schwab Municipal Money Fund suitable for risk-averse investors?

Yes, the fund's focus on capital preservation and low-risk investments makes it a suitable option for investors seeking stability.

The Charles Schwab Family of Funds - Schwab Municipal Money Fund

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