Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Reaches New 52-Week Low – What’s Next?

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $26.96 and last traded at $26.97, with a volume of 72266 shares. The stock had previously closed at $27.19.

Capital Group U.S. Multi-Sector Income ETF Stock Down 0.8%

The stock has a 50 day moving average of $27.36 and a 200 day moving average of $27.49. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 10.71 and a beta of 0.29.

Hedge Funds Weigh In On Capital Group U.S. Multi-Sector Income ETF

A number of hedge funds have recently bought and sold shares of CGMS. Nations Financial Group Inc. IA ADV boosted its position in Capital Group U.S. Multi-Sector Income ETF by 1.1% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 35,036 shares of the company’s stock worth $968,000 after purchasing an additional 373 shares during the last quarter. Burford Brothers Inc. increased its position in shares of Capital Group U.S. Multi-Sector Income ETF by 1.4% during the 1st quarter. Burford Brothers Inc. now owns 30,956 shares of the company’s stock valued at $843,000 after purchasing an additional 414 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Capital Group U.S. Multi-Sector Income ETF by 0.8% during the 4th quarter. Apollon Wealth Management LLC now owns 54,344 shares of the company’s stock valued at $1,501,000 after purchasing an additional 439 shares during the last quarter. Bridgewealth Advisory Group LLC raised its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 2.8% during the 4th quarter. Bridgewealth Advisory Group LLC now owns 16,486 shares of the company’s stock worth $455,000 after purchasing an additional 445 shares during the period. Finally, Trilogy Capital Inc. raised its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 1.2% during the 2nd quarter. Trilogy Capital Inc. now owns 39,966 shares of the company’s stock worth $1,092,000 after purchasing an additional 480 shares during the period.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.