Legacy CG LLC Purchases 594,683 Shares of Capital Group Municipal Income ETF $CGMU

Legacy CG LLC purchased a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 594,683 shares of the company’s stock, valued at approximately $15,426,000. Capital Group Municipal Income ETF comprises approximately 3.9% of Legacy CG LLC’s investment portfolio, making the stock its 8th largest position.

Other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC increased its position in shares of Capital Group Municipal Income ETF by 672.6% during the 2nd quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after purchasing an additional 908 shares during the last quarter. Pinnacle Bancorp Inc. raised its holdings in Capital Group Municipal Income ETF by 52.3% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 2,826 shares of the company’s stock valued at $73,000 after buying an additional 970 shares during the period. Root Financial Partners LLC acquired a new position in Capital Group Municipal Income ETF in the third quarter valued at about $97,000. Signature Equity Partners LLC acquired a new position in Capital Group Municipal Income ETF in the third quarter valued at about $129,000. Finally, MBE Wealth Management LLC acquired a new position in Capital Group Municipal Income ETF in the third quarter valued at about $203,000.

Capital Group Municipal Income ETF Stock Up 0.1%

Shares of CGMU stock opened at $26.76 on Wednesday. The company has a 50-day moving average of $26.46 and a two-hundred day moving average of $27.17. 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 Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were issued a $0.0763 dividend. The ex-dividend date was Friday, October 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.4%. This is a decrease from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773.

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.