Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Hits New 52-Week High – Still a Buy?

Shares of Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.67 and last traded at $30.67, with a volume of 32455 shares trading hands. The stock had previously closed at $30.49.

Capital Group Global Growth Equity ETF Stock Up 0.6 %

The firm has a 50 day moving average of $29.41 and a 200-day moving average of $29.19. The firm has a market capitalization of $3.63 billion, a P/E ratio of 26.27 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGGO. Everpar Advisors LLC raised its position in Capital Group Global Growth Equity ETF by 4.5% during the third quarter. Everpar Advisors LLC now owns 8,880 shares of the company’s stock valued at $268,000 after purchasing an additional 380 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Capital Group Global Growth Equity ETF by 1.5% in the second quarter. Belpointe Asset Management LLC now owns 32,246 shares of the company’s stock valued at $949,000 after buying an additional 462 shares in the last quarter. Advance Capital Management Inc. grew its position in Capital Group Global Growth Equity ETF by 3.5% in the first quarter. Advance Capital Management Inc. now owns 13,636 shares of the company’s stock valued at $393,000 after acquiring an additional 467 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Capital Group Global Growth Equity ETF by 33.3% during the first quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the company’s stock worth $58,000 after acquiring an additional 500 shares in the last quarter. Finally, Moloney Securities Asset Management LLC lifted its holdings in shares of Capital Group Global Growth Equity ETF by 3.6% in the first quarter. Moloney Securities Asset Management LLC now owns 18,339 shares of the company’s stock worth $528,000 after acquiring an additional 630 shares during the last quarter.

About Capital Group Global Growth Equity ETF

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.