Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Hits New 12-Month Low – What’s Next?

Capital Group Core Plus Income ETF (NYSEARCA:CGCP)’s share price hit a new 52-week low on Friday . The company traded as low as $21.89 and last traded at $21.89, with a volume of 56194 shares changing hands. The stock had previously closed at $22.06.

Capital Group Core Plus Income ETF Stock Performance

The firm’s 50-day moving average is $22.24 and its two-hundred day moving average is $22.45. The stock has a market cap of $8.35 billion, a P/E ratio of 10.69 and a beta of 0.32.

Institutional Investors Weigh In On Capital Group Core Plus Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Beam Wealth Advisors Inc. increased its stake in shares of Capital Group Core Plus Income ETF by 4.1% in the 4th quarter. Beam Wealth Advisors Inc. now owns 12,134 shares of the company’s stock valued at $275,000 after purchasing an additional 478 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Capital Group Core Plus Income ETF by 3.5% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 16,121 shares of the company’s stock worth $360,000 after buying an additional 550 shares during the last quarter. Ridgeline Wealth Planning LLC lifted its position in shares of Capital Group Core Plus Income ETF by 3.3% during the 4th quarter. Ridgeline Wealth Planning LLC now owns 17,420 shares of the company’s stock worth $394,000 after buying an additional 555 shares during the last quarter. CWS Financial Advisors LLC boosted its stake in Capital Group Core Plus Income ETF by 1.7% in the fourth quarter. CWS Financial Advisors LLC now owns 33,753 shares of the company’s stock valued at $764,000 after buying an additional 575 shares in the last quarter. Finally, Cim LLC boosted its stake in Capital Group Core Plus Income ETF by 6.8% in the third quarter. Cim LLC now owns 9,953 shares of the company’s stock valued at $226,000 after buying an additional 633 shares in the last quarter.

About Capital Group Core Plus Income ETF

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.