Capital Group Municipal Income ETF (NYSEARCA:CGMU) Hits New 12-Month Low – Here’s Why

Capital Group Municipal Income ETF (NYSEARCA:CGMU)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $26.80 and last traded at $26.82, with a volume of 1824107 shares trading hands. The stock had previously closed at $26.81.

Capital Group Municipal Income ETF Stock Up 0.0%

The company has a fifty day moving average of $27.21 and a two-hundred day moving average of $27.36.

Capital Group Municipal Income ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 31st were given a $0.0702 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, August 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IMPACTfolio LLC lifted its position in shares of Capital Group Municipal Income ETF by 6.0% in the second quarter. IMPACTfolio LLC now owns 224,209 shares of the company’s stock worth $6,159,000 after buying an additional 12,595 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Capital Group Municipal Income ETF by 129.4% in the second quarter. Ameritas Advisory Services LLC now owns 148,803 shares of the company’s stock valued at $4,088,000 after buying an additional 83,948 shares during the period. Kintra Wealth LLC grew its holdings in shares of Capital Group Municipal Income ETF by 188.6% during the second quarter. Kintra Wealth LLC now owns 194,705 shares of the company’s stock worth $5,298,000 after buying an additional 127,244 shares in the last quarter. HB Wealth Management LLC bought a new position in Capital Group Municipal Income ETF in the second quarter worth approximately $799,000. Finally, Succession Financial Inc. acquired a new position in Capital Group Municipal Income ETF in the 2nd quarter worth about $499,000.

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.