Cornerstone Advisors Asset Management LLC Has $6.14 Million Stake in Capital Group Municipal Income ETF $CGMU

Cornerstone Advisors Asset Management LLC increased its holdings in Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 23.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,595 shares of the company’s stock after purchasing an additional 43,156 shares during the period. Capital Group Municipal Income ETF makes up 0.8% of Cornerstone Advisors Asset Management LLC’s portfolio, making the stock its 26th biggest position. Cornerstone Advisors Asset Management LLC owned about 0.09% of Capital Group Municipal Income ETF worth $6,142,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jane Street Group LLC lifted its holdings in Capital Group Municipal Income ETF by 23.6% in the first quarter. Jane Street Group LLC now owns 228,094 shares of the company’s stock valued at $6,117,000 after buying an additional 43,538 shares during the period. Cerity Partners LLC boosted its stake in Capital Group Municipal Income ETF by 0.7% in the 2nd quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock worth $1,607,000 after purchasing an additional 433 shares during the period. NewEdge Advisors LLC grew its stake in shares of Capital Group Municipal Income ETF by 105.7% during the 2nd quarter. NewEdge Advisors LLC now owns 123,537 shares of the company’s stock worth $3,297,000 after acquiring an additional 63,473 shares in the last quarter. Sei Investments Co. bought a new stake in Capital Group Municipal Income ETF during the second quarter worth about $6,154,000. Finally, Raymond James Financial Inc. increased its holdings in shares of Capital Group Municipal Income ETF by 45.6% in the second quarter. Raymond James Financial Inc. now owns 1,152,361 shares of the company’s stock valued at $30,757,000 after purchasing an additional 360,770 shares during the last quarter.

Capital Group Municipal Income ETF Price Performance

CGMU opened at $26.78 on Friday. The stock has a fifty day moving average of $27.18 and a 200-day moving average of $27.35. Capital Group Municipal Income ETF has a fifty-two week low of $26.77 and a fifty-two week high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were given a dividend of $0.0878 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, July 31st. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

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.