Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Short Interest Down 68.4% in May

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 155,415 shares, a decline of 68.4% from the May 14th total of 491,739 shares. Based on an average daily volume of 988,756 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGMS. Focus Partners Wealth bought a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 1st quarter valued at $1,048,000. NewEdge Advisors LLC raised its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 85.1% during the 2nd quarter. NewEdge Advisors LLC now owns 148,965 shares of the company’s stock valued at $4,114,000 after purchasing an additional 68,484 shares in the last quarter. CLG LLC raised its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 7.4% during the 2nd quarter. CLG LLC now owns 47,423 shares of the company’s stock valued at $1,310,000 after purchasing an additional 3,261 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 4.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 398,486 shares of the company’s stock valued at $11,006,000 after purchasing an additional 17,345 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 2nd quarter valued at $230,000.

Capital Group U.S. Multi-Sector Income ETF Price Performance

CGMS traded down $0.02 on Friday, reaching $27.48. 2,602,118 shares of the company traded hands, compared to its average volume of 1,031,716. The stock’s 50 day moving average price is $27.50 and its 200-day moving average price is $27.59. Capital Group U.S. Multi-Sector Income ETF has a 52-week low of $27.01 and a 52-week high of $28.08. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 10.71 and a beta of 0.29.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.