Capital Group Municipal Income ETF (NYSEARCA:CGMU) Reaches New 52-Week High – What’s Next?

Capital Group Municipal Income ETF (NYSEARCA:CGMU)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $27.84 and last traded at $27.8350, with a volume of 284467 shares. The stock had previously closed at $27.82.

Capital Group Municipal Income ETF Trading Down 0.0%

The business’s fifty day moving average price is $27.55 and its 200-day moving average price is $27.33.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 30th were paid a dividend of $0.0675 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a c) annualized dividend and a yield of 2.9%.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of large investors have recently modified their holdings of CGMU. Capital International Investors boosted its stake in Capital Group Municipal Income ETF by 1.6% in the fourth quarter. Capital International Investors now owns 46,328,510 shares of the company’s stock worth $1,268,475,000 after buying an additional 743,875 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Capital Group Municipal Income ETF by 18.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock worth $272,854,000 after acquiring an additional 1,573,897 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Capital Group Municipal Income ETF by 38.2% in the 4th quarter. Morgan Stanley now owns 8,991,680 shares of the company’s stock worth $246,192,000 after acquiring an additional 2,484,296 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Capital Group Municipal Income ETF by 15.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,596,372 shares of the company’s stock valued at $207,989,000 after purchasing an additional 998,606 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Capital Group Municipal Income ETF by 28.0% during the 4th quarter. LPL Financial LLC now owns 6,756,622 shares of the company’s stock valued at $184,996,000 after purchasing an additional 1,479,528 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.