Capital Group Dividend Value ETF (NYSEARCA:CGDV) Hits New 12-Month High – What’s Next?

Capital Group Dividend Value ETF (NYSEARCA:CGDV) reached a new 52-week high during trading on Wednesday . The company traded as high as $47.20 and last traded at $47.15, with a volume of 202567 shares. The stock had previously closed at $46.66.

Capital Group Dividend Value ETF Price Performance

The firm has a market capitalization of $34.19 billion, a P/E ratio of 26.59 and a beta of 0.89. The stock’s 50-day simple moving average is $44.47 and its two-hundred day simple moving average is $44.03.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC raised its holdings in Capital Group Dividend Value ETF by 20.7% during the fourth quarter. LPL Financial LLC now owns 63,490,640 shares of the company’s stock valued at $2,770,731,000 after acquiring an additional 10,904,954 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Capital Group Dividend Value ETF by 6.6% in the fourth quarter. Raymond James Financial Inc. now owns 23,591,243 shares of the company’s stock worth $1,029,522,000 after acquiring an additional 1,465,566 shares during the period. Capital International Investors boosted its stake in shares of Capital Group Dividend Value ETF by 1.8% in the fourth quarter. Capital International Investors now owns 22,899,119 shares of the company’s stock worth $999,318,000 after acquiring an additional 397,762 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Capital Group Dividend Value ETF by 12.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,754,937 shares of the company’s stock worth $818,465,000 after purchasing an additional 2,061,385 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Capital Group Dividend Value ETF by 4.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 17,388,906 shares of the company’s stock valued at $730,856,000 after purchasing an additional 668,214 shares during the period.

Capital Group Dividend Value ETF Company Profile

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.