Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – Time to Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw unusually-strong trading volume on Wednesday. Approximately 2,882,495 shares changed hands during mid-day trading, an increase of 94% from the previous session’s volume of 1,482,094 shares. The stock last traded at $26.0850 and had previously closed at $26.19.

Capital Group Municipal Income ETF Stock Performance

The firm has a 50-day moving average price of $26.59 and a two-hundred day moving average price of $27.07.

Capital Group Municipal Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 29th were issued a $0.0773 dividend. The ex-dividend date was Tuesday, September 29th. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702. This represents a $0.93 dividend on an annualized basis and a dividend yield of 3.5%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGMU. Envestnet Asset Management Inc. boosted its position in Capital Group Municipal Income ETF by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock valued at $376,376,000 after buying an additional 859,323 shares during the period. Cetera Investment Advisers increased its position in shares of Capital Group Municipal Income ETF by 17.3% during the first quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock worth $132,429,000 after acquiring an additional 720,377 shares during the period. Bank of America Corp DE increased its position in shares of Capital Group Municipal Income ETF by 119.9% during the first quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock worth $46,052,000 after acquiring an additional 924,704 shares during the period. Blue Chip Partners LLC increased its position in shares of Capital Group Municipal Income ETF by 1.1% during the first quarter. Blue Chip Partners LLC now owns 1,653,001 shares of the company’s stock worth $44,879,000 after acquiring an additional 17,316 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Capital Group Municipal Income ETF by 17.3% during the first quarter. Royal Bank of Canada now owns 1,352,529 shares of the company’s stock valued at $36,721,000 after acquiring an additional 199,108 shares in the last quarter.

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.