Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Significant Growth in Short Interest

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 2,103,061 shares, an increase of 123.8% from the September 15th total of 939,535 shares. Based on an average daily trading volume, of 3,294,657 shares, the short-interest ratio is currently 0.6 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC boosted its holdings in shares of Capital Group Municipal Income ETF by 672.6% in the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock valued at $29,000 after acquiring an additional 908 shares during the period. Capital Asset Advisory Services LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 1st quarter valued at $211,000. Mayflower Financial Advisors LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 1st quarter valued at $216,000. Affiance Financial LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 2nd quarter valued at $219,000. Finally, Waverly Advisors LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 1st quarter valued at $226,000.

Capital Group Municipal Income ETF Stock Down 0.1%

NYSEARCA CGMU traded down $0.03 during trading on Wednesday, reaching $26.16. 6,371,254 shares of the company’s stock were exchanged, compared to its average volume of 1,500,587. The company has a 50 day moving average price of $26.63 and a two-hundred day moving average price of $27.09. Capital Group Municipal Income ETF has a 1 year low of $25.73 and a 1 year high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 29th were issued a $0.0773 dividend. This represents a $0.93 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 29th. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702.

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.