Cornerstone Advisors Asset Management LLC Buys 43,156 Shares of Capital Group Municipal Income ETF $CGMU

Cornerstone Advisors Asset Management LLC raised its position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,595 shares of the company’s stock after purchasing an additional 43,156 shares during the period. Capital Group Municipal Income ETF makes up approximately 0.8% of Cornerstone Advisors Asset Management LLC’s investment portfolio, making the stock its 26th biggest position. Cornerstone Advisors Asset Management LLC’s holdings in Capital Group Municipal Income ETF were worth $6,142,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Boulder Wealth Advisors LLC bought a new position in Capital Group Municipal Income ETF in the 4th quarter valued at approximately $9,452,000. Cornerstone Wealth Management LLC increased its holdings in shares of Capital Group Municipal Income ETF by 74.9% during the fourth quarter. Cornerstone Wealth Management LLC now owns 64,079 shares of the company’s stock worth $1,754,000 after buying an additional 27,447 shares in the last quarter. World Investment Advisors increased its holdings in shares of Capital Group Municipal Income ETF by 18.2% during the fourth quarter. World Investment Advisors now owns 196,510 shares of the company’s stock worth $5,380,000 after buying an additional 30,297 shares in the last quarter. Independent Financial Group LLC bought a new position in shares of Capital Group Municipal Income ETF in the 1st quarter valued at $527,000. Finally, Platt Wealth Management LLC bought a new position in shares of Capital Group Municipal Income ETF in the 4th quarter valued at $3,243,000.

Capital Group Municipal Income ETF Stock Performance

Shares of CGMU stock opened at $26.78 on Friday. Capital Group Municipal Income ETF has a twelve month low of $26.77 and a twelve month high of $27.93. The stock’s fifty day simple moving average is $27.18 and its 200 day simple moving average is $27.35.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 31st were issued a $0.0878 dividend. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%.

About Capital Group Municipal Income ETF

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.