Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Growth in Short Interest
by Teresa Graham · The Cerbat GemCapital Group Municipal Income ETF (NYSEARCA:CGMU – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 819,212 shares, a growth of 37.5% from the March 15th total of 595,777 shares. Based on an average daily volume of 1,428,577 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the company’s shares are sold short.
Capital Group Municipal Income ETF Trading Up 0.1%
CGMU stock traded up $0.03 during mid-day trading on Thursday, reaching $27.42. The company’s stock had a trading volume of 189,799 shares, compared to its average volume of 1,144,542. Capital Group Municipal Income ETF has a 12 month low of $26.22 and a 12 month high of $27.93. The business’s 50 day moving average price is $27.54 and its 200 day moving average price is $27.46.
Capital Group Municipal Income ETF Increases Dividend
The business also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were paid a $0.0827 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 3.6%. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of CGMU. Genesis Private Wealth LLC increased its stake in Capital Group Municipal Income ETF by 16.0% in the first quarter. Genesis Private Wealth LLC now owns 20,056 shares of the company’s stock valued at $545,000 after purchasing an additional 2,770 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Capital Group Municipal Income ETF by 29.4% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 35,525 shares of the company’s stock worth $965,000 after purchasing an additional 8,070 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Capital Group Municipal Income ETF in the 4th quarter valued at about $20,504,000. Rockefeller Capital Management L.P. increased its position in Capital Group Municipal Income ETF by 125.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 263,179 shares of the company’s stock valued at $7,206,000 after buying an additional 146,440 shares in the last quarter. Finally, Advisortrust Partners LLC bought a new stake in Capital Group Municipal Income ETF in the 4th quarter valued at about $257,000.
Capital Group Municipal Income ETF Company Profile
The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.