Modern Wealth Management LLC Has $3.58 Million Stake in Capital Group Municipal Income ETF $CGMU

Modern Wealth Management LLC increased its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 54.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,063 shares of the company’s stock after buying an additional 45,969 shares during the quarter. Modern Wealth Management LLC owned about 0.08% of Capital Group Municipal Income ETF worth $3,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC acquired a new stake in shares of Capital Group Municipal Income ETF during the 3rd quarter worth $42,000. Root Financial Partners LLC acquired a new position in Capital Group Municipal Income ETF in the third quarter valued at about $102,000. Farther Finance Advisors LLC bought a new stake in Capital Group Municipal Income ETF during the third quarter worth about $125,000. Financial Perspectives Inc lifted its position in Capital Group Municipal Income ETF by 12.2% during the third quarter. Financial Perspectives Inc now owns 5,621 shares of the company’s stock worth $153,000 after purchasing an additional 613 shares during the period. Finally, US Bancorp DE acquired a new stake in Capital Group Municipal Income ETF during the third quarter worth about $169,000.

Capital Group Municipal Income ETF Stock Performance

Shares of NYSEARCA:CGMU opened at $27.64 on Friday. The firm has a 50 day moving average of $27.64 and a 200-day moving average of $27.41. Capital Group Municipal Income ETF has a 12 month low of $25.83 and a 12 month high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 27th were given a dividend of $0.0827 per share. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, February 27th.

Capital Group Municipal Income ETF 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.