Novem Group Buys Shares of 54,895 Capital Group Municipal Income ETF (NYSEARCA:CGMU)

Novem Group purchased a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,895 shares of the company’s stock, valued at approximately $1,478,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in Capital Group Municipal Income ETF by 12.9% in the fourth quarter. Royal Bank of Canada now owns 560,411 shares of the company’s stock valued at $15,087,000 after purchasing an additional 64,020 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Capital Group Municipal Income ETF by 12.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,282,547 shares of the company’s stock worth $34,526,000 after buying an additional 143,537 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Capital Group Municipal Income ETF by 6.8% during the 4th quarter. Cetera Investment Advisers now owns 2,316,401 shares of the company’s stock worth $62,358,000 after buying an additional 147,350 shares during the period. Citadel Advisors LLC bought a new stake in shares of Capital Group Municipal Income ETF in the 4th quarter valued at about $569,000. Finally, Captrust Financial Advisors raised its position in shares of Capital Group Municipal Income ETF by 349.1% in the 4th quarter. Captrust Financial Advisors now owns 62,874 shares of the company’s stock valued at $1,693,000 after acquiring an additional 48,874 shares during the period.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU stock opened at $26.60 on Wednesday. Capital Group Municipal Income ETF has a 12-month low of $25.83 and a 12-month high of $27.54. The firm has a fifty day moving average of $26.61 and a 200-day moving average of $26.92.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 28th were issued a dividend of $0.0775 per share. The ex-dividend date was Friday, March 28th. This is an increase from Capital Group Municipal Income ETF’s previous dividend of $0.06.

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.