Capital Group Municipal Income ETF (NYSEARCA:CGMU) Shares Shorted: Short Interest Up 701.9% in October

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 1,191,983 shares, an increase of 701.9% from the October 15th total of 148,648 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 3,400,208 shares, the days-to-cover ratio is presently 0.4 days.

Capital Group Municipal Income ETF Trading Down 0.3%

Shares of Capital Group Municipal Income ETF stock opened at $26.93 on Wednesday. Capital Group Municipal Income ETF has a 12-month low of $25.73 and a 12-month high of $27.93. The firm’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $27.16.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were issued a dividend of $0.0763 per share. This is a drop from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. The ex-dividend date of this dividend was Friday, October 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.4%.

Institutional Trading of Capital Group Municipal Income ETF

Several large investors have recently made changes to their positions in CGMU. Stonebridge Financial Group LLC lifted its stake in Capital Group Municipal Income ETF by 114.7% during the third quarter. Stonebridge Financial Group LLC now owns 765,597 shares of the company’s stock worth $19,860,000 after purchasing an additional 408,964 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Capital Group Municipal Income ETF in the 1st quarter valued at $527,000. Western Wealth Management LLC increased its stake in shares of Capital Group Municipal Income ETF by 91.3% in the 1st quarter. Western Wealth Management LLC now owns 59,505 shares of the company’s stock valued at $1,616,000 after purchasing an additional 28,404 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Capital Group Municipal Income ETF by 24.6% in the 1st quarter. NewEdge Advisors LLC now owns 224,262 shares of the company’s stock valued at $6,089,000 after purchasing an additional 44,220 shares during the last quarter. Finally, ARQ Wealth Advisors LLC increased its stake in shares of Capital Group Municipal Income ETF by 10.0% in the 3rd quarter. ARQ Wealth Advisors LLC now owns 221,132 shares of the company’s stock valued at $5,736,000 after purchasing an additional 20,106 shares during 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.