Modern Wealth Management LLC Reduces Stock Position in Capital Group Municipal Income ETF $CGMU

Modern Wealth Management LLC cut its holdings in Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 27.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 94,875 shares of the company’s stock after selling 35,580 shares during the period. Modern Wealth Management LLC’s holdings in Capital Group Municipal Income ETF were worth $2,581,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CGMU. Jane Street Group LLC lifted its holdings in shares of Capital Group Municipal Income ETF by 23.6% in the 1st quarter. Jane Street Group LLC now owns 228,094 shares of the company’s stock valued at $6,117,000 after acquiring an additional 43,538 shares during the last quarter. Cerity Partners LLC increased its stake in Capital Group Municipal Income ETF by 0.7% during the second quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock worth $1,607,000 after acquiring an additional 433 shares during the last quarter. NewEdge Advisors LLC increased its stake in Capital Group Municipal Income ETF by 105.7% during the second 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 during the last quarter. Sei Investments Co. purchased a new stake in Capital Group Municipal Income ETF during the second quarter valued at approximately $6,154,000. Finally, Raymond James Financial Inc. raised its position in Capital Group Municipal Income ETF by 45.6% during 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 period.

Capital Group Municipal Income ETF Stock Up 0.1%

NYSEARCA:CGMU opened at $27.05 on Friday. Capital Group Municipal Income ETF has a 1 year low of $26.59 and a 1 year high of $27.93. The business has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $27.46.

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.