Short Interest in Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Increases By 515.2%

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 1,287,052 shares, a growth of 515.2% from the May 14th total of 209,205 shares. Based on an average daily volume of 1,064,292 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Capital Group New Geography Equity ETF

A number of large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Capital Group New Geography Equity ETF by 9.3% during the first quarter. NewEdge Advisors LLC now owns 719,193 shares of the company’s stock worth $22,705,000 after purchasing an additional 61,277 shares during the period. Security Financial Services INC. raised its stake in Capital Group New Geography Equity ETF by 18.1% during the first quarter. Security Financial Services INC. now owns 16,394 shares of the company’s stock worth $518,000 after purchasing an additional 2,512 shares during the period. J. Derek Lewis & Associates Inc. increased its stake in Capital Group New Geography Equity ETF by 21.0% during the first quarter. J. Derek Lewis & Associates Inc. now owns 127,409 shares of the company’s stock worth $4,047,000 after acquiring an additional 22,128 shares during the last quarter. Western Wealth Management LLC increased its stake in Capital Group New Geography Equity ETF by 146.3% during the first quarter. Western Wealth Management LLC now owns 104,598 shares of the company’s stock worth $3,302,000 after acquiring an additional 62,134 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Capital Group New Geography Equity ETF by 131.4% during the first quarter. Bank of America Corp DE now owns 1,302,791 shares of the company’s stock worth $41,129,000 after acquiring an additional 739,844 shares during the last quarter.

Capital Group New Geography Equity ETF Stock Down 2.0%

Shares of CGNG traded down $0.70 during mid-day trading on Wednesday, hitting $34.83. The company had a trading volume of 846,330 shares, compared to its average volume of 657,890. The business’s 50-day simple moving average is $34.86 and its 200-day simple moving average is $33.50. Capital Group New Geography Equity ETF has a 1-year low of $27.36 and a 1-year high of $37.60. The stock has a market cap of $2.07 billion, a PE ratio of 19.57 and a beta of 0.83.

Capital Group New Geography Equity ETF Company Profile

The Capital Group New Geography Equity ETF (CGNG) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking long-term capital appreciation through investment in companies from the emerging markets, may include frontier markets securities. CGNG was launched on Jun 25, 2024 and is issued by Capital Group.