Schmidt P J Investment Management Inc. Purchases 35,805 Shares of Capital Group Municipal Income ETF $CGMU

Schmidt P J Investment Management Inc. purchased a new stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the 3rd quarter, Holdings Channel reports. The fund purchased 35,805 shares of the company’s stock, valued at approximately $929,000.

Several other hedge funds have also recently bought and sold shares of the business. Ascent Group LLC boosted its position in Capital Group Municipal Income ETF by 1.8% during the 3rd quarter. Ascent Group LLC now owns 33,159 shares of the company’s stock worth $860,000 after acquiring an additional 600 shares during the period. Legacy CG LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at about $15,426,000. Next Level Wealth Planning LLC increased its holdings in shares of Capital Group Municipal Income ETF by 20.8% in the 3rd quarter. Next Level Wealth Planning LLC now owns 35,427 shares of the company’s stock valued at $919,000 after purchasing an additional 6,109 shares during the period. Signature Equity Partners LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at about $129,000. Finally, ARQ Wealth Advisors LLC lifted its position in shares of Capital Group Municipal Income ETF by 10.0% in the third quarter. ARQ Wealth Advisors LLC now owns 221,132 shares of the company’s stock worth $5,736,000 after purchasing an additional 20,106 shares in the last quarter.

Capital Group Municipal Income ETF Price Performance

NYSEARCA CGMU opened at $26.84 on Thursday. The company has a 50 day simple moving average of $26.46 and a 200-day simple moving average of $27.17. Capital Group Municipal Income ETF has a 52-week low of $25.73 and a 52-week 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. Investors of record on Friday, October 30th were given a dividend of $0.0763 per share. The ex-dividend date of this dividend was Friday, October 30th. This is a drop from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. This represents a $0.92 dividend on an annualized basis and a yield of 3.4%.

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.