Short Interest in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Drops By 56.4%

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 31,878 shares, a decrease of 56.4% from the February 26th total of 73,039 shares. Based on an average daily trading volume, of 267,879 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in shares of Capital Group Short Duration Municipal Income ETF in the fourth quarter valued at $30,000. JPMorgan Chase & Co. lifted its stake in Capital Group Short Duration Municipal Income ETF by 409.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,641 shares of the company’s stock worth $43,000 after acquiring an additional 1,319 shares in the last quarter. Private Trust Co. NA purchased a new position in Capital Group Short Duration Municipal Income ETF during the 4th quarter valued at about $50,000. Lodestone Wealth Management LLC purchased a new position in Capital Group Short Duration Municipal Income ETF during the 4th quarter valued at about $51,000. Finally, CoreCap Advisors LLC acquired a new position in Capital Group Short Duration Municipal Income ETF in the 4th quarter valued at about $58,000.

Capital Group Short Duration Municipal Income ETF Price Performance

Shares of CGSM traded up $0.01 during trading on Friday, reaching $26.31. 204,242 shares of the company traded hands, compared to its average volume of 264,631. The stock has a 50-day simple moving average of $26.52 and a 200-day simple moving average of $26.43. Capital Group Short Duration Municipal Income ETF has a twelve month low of $25.55 and a twelve month high of $26.68.

Capital Group Short Duration Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 27th were issued a $0.0667 dividend. This is a boost from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.06. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 3.0%.

About Capital Group Short Duration Municipal Income ETF

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.