Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Increase in Short Interest

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 323,040 shares, an increase of 57.9% from the November 30th total of 204,648 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 813,442 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 813,442 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

Capital Group Municipal Income ETF Stock Performance

Shares of CGMU stock traded up $0.02 during mid-day trading on Tuesday, reaching $27.38. 1,058,907 shares of the company’s stock traded hands, compared to its average volume of 702,103. The company’s 50-day moving average price is $27.40 and its 200-day moving average price is $27.09. Capital Group Municipal Income ETF has a 12 month low of $25.83 and a 12 month high of $27.56.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, December 26th. Shareholders of record on Wednesday, December 24th were issued a $0.0872 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date was Wednesday, December 24th.

Institutional Trading of Capital Group Municipal Income ETF

A number of hedge funds have recently made changes to their positions in the stock. Sand Hill Global Advisors LLC bought a new position in Capital Group Municipal Income ETF in the second quarter worth approximately $511,000. D.A. Davidson & CO. purchased a new stake in shares of Capital Group Municipal Income ETF in the 2nd quarter worth $241,000. NavPoint Financial Inc. raised its holdings in Capital Group Municipal Income ETF by 9.8% in the 2nd quarter. NavPoint Financial Inc. now owns 91,818 shares of the company’s stock worth $2,451,000 after purchasing an additional 8,157 shares during the period. Petredis Investment Advisors LLC bought a new position in Capital Group Municipal Income ETF in the 2nd quarter worth $2,223,000. Finally, DAVENPORT & Co LLC grew its holdings in Capital Group Municipal Income ETF by 3.1% during the second quarter. DAVENPORT & Co LLC now owns 12,873 shares of the company’s stock valued at $344,000 after purchasing an additional 386 shares during the period.

About Capital Group Municipal Income ETF

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.