Capital Group Dividend Value ETF (NYSEARCA:CGDV) Sees Large Decrease in Short Interest

Capital Group Dividend Value ETF (NYSEARCA:CGDV) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 652,565 shares, a decline of 73.8% from the May 14th total of 2,490,574 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 3,597,843 shares, the days-to-cover ratio is presently 0.2 days.

Capital Group Dividend Value ETF Stock Performance

NYSEARCA:CGDV traded up $0.96 on Thursday, hitting $48.23. 3,304,250 shares of the stock were exchanged, compared to its average volume of 4,645,402. The stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 26.59 and a beta of 0.89. Capital Group Dividend Value ETF has a 52 week low of $38.00 and a 52 week high of $49.10. The company’s 50-day moving average price is $46.63 and its 200 day moving average price is $45.05.

Institutional Trading of Capital Group Dividend Value ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pflug Koory LLC bought a new stake in shares of Capital Group Dividend Value ETF in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Capital Group Dividend Value ETF in the 4th quarter valued at about $32,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Capital Group Dividend Value ETF in the 4th quarter valued at about $32,000. Tucker Asset Management LLC bought a new stake in shares of Capital Group Dividend Value ETF in the 4th quarter valued at $32,000. Finally, Triumph Capital Management bought a new stake in shares of Capital Group Dividend Value ETF in the 3rd quarter valued at $32,000.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.