Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 88,555 shares, a growth of 186.1% from the May 31st total of 30,951 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 221,977 shares, the days-to-cover ratio is presently 0.4 days.
Capital Group Short Duration Municipal Income ETF Stock Performance
CGSM traded up $0.04 on Friday, reaching $26.43. The company had a trading volume of 155,165 shares, compared to its average volume of 358,153. The company has a fifty day moving average of $26.35 and a 200-day moving average of $26.42. Capital Group Short Duration Municipal Income ETF has a one year low of $26.05 and a one year high of $26.68.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in CGSM. Western Wealth Management LLC acquired a new stake in Capital Group Short Duration Municipal Income ETF in the first quarter worth approximately $302,000. NewEdge Advisors LLC increased its position in shares of Capital Group Short Duration Municipal Income ETF by 40.6% during the 1st quarter. NewEdge Advisors LLC now owns 72,803 shares of the company’s stock valued at $1,913,000 after purchasing an additional 21,013 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Capital Group Short Duration Municipal Income ETF in the 1st quarter worth $101,000. Royal Bank of Canada raised its stake in shares of Capital Group Short Duration Municipal Income ETF by 85.2% in the 1st quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock worth $8,570,000 after buying an additional 150,064 shares in the last quarter. Finally, Gateway Wealth Partners LLC lifted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 151.7% in the first quarter. Gateway Wealth Partners LLC now owns 64,441 shares of the company’s stock valued at $1,694,000 after buying an additional 38,834 shares during the period.
Capital Group Short Duration Municipal Income ETF Company Profile
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.
Recommended Stories
- Five stocks we like better than Capital Group Short Duration Municipal Income ETF
- As Stablecoins Keep Growing, These 2 Stocks Benefit
- Apple Just Handed These 4 Memory Stocks Their Best News of the Year
- Costco’s Secret Growth Engine May Be Running Out of Gas
- Why Alphabet’s Pullback May Be an Opportunity in Disguise
Receive News & Ratings for Capital Group Short Duration Municipal Income ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Group Short Duration Municipal Income ETF and related companies with MarketBeat.com's FREE daily email newsletter.
