Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Sees Significant Drop in Short Interest

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 99,916 shares, a decline of 85.2% from the July 30th total of 675,683 shares. Based on an average daily volume of 987,253 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Capital Group U.S. Multi-Sector Income ETF Stock Performance

NYSEARCA CGMS traded down $0.03 during mid-day trading on Wednesday, reaching $27.22. 678,163 shares of the stock were exchanged, compared to its average volume of 1,044,726. The company has a market capitalization of $5.35 billion, a P/E ratio of 10.71 and a beta of 0.29. The business’s 50 day moving average is $27.25 and its 200-day moving average is $27.42. Capital Group U.S. Multi-Sector Income ETF has a 1 year low of $26.95 and a 1 year high of $28.08.

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

A number of large investors have recently bought and sold shares of CGMS. LPL Financial LLC grew its holdings in Capital Group U.S. Multi-Sector Income ETF by 30.8% in the fourth quarter. LPL Financial LLC now owns 15,366,839 shares of the company’s stock valued at $424,432,000 after purchasing an additional 3,616,255 shares during the period. Morgan Stanley grew its stake in Capital Group U.S. Multi-Sector Income ETF by 2.8% in the 4th quarter. Morgan Stanley now owns 6,699,298 shares of the company’s stock valued at $185,035,000 after acquiring an additional 183,781 shares during the period. Wells Fargo & Company MN grew its stake in Capital Group U.S. Multi-Sector Income ETF by 44.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,404,827 shares of the company’s stock valued at $149,281,000 after acquiring an additional 1,658,572 shares during the period. Raymond James Financial Inc. increased its holdings in Capital Group U.S. Multi-Sector Income ETF by 19.9% in the 4th quarter. Raymond James Financial Inc. now owns 5,202,259 shares of the company’s stock worth $143,686,000 after acquiring an additional 863,369 shares in the last quarter. Finally, UBS Group AG raised its position in Capital Group U.S. Multi-Sector Income ETF by 25.2% during the fourth quarter. UBS Group AG now owns 4,413,157 shares of the company’s stock worth $121,891,000 after acquiring an additional 888,212 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.