Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – Should You Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw unusually-strong trading volume on Wednesday. 2,882,495 shares were traded during trading, an increase of 94% from the previous session’s volume of 1,482,094 shares. The stock last traded at $26.0850 and had previously closed at $26.19.

Capital Group Municipal Income ETF Price Performance

The company’s fifty day simple moving average is $26.63 and its 200 day simple moving average is $27.09.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.0773 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $0.93 annualized dividend and a yield of 3.5%. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CGMU. Lineweaver Wealth Advisors LLC increased its position in shares of Capital Group Municipal Income ETF by 63.9% in the third quarter. Lineweaver Wealth Advisors LLC now owns 59,156 shares of the company’s stock valued at $1,535,000 after buying an additional 23,059 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in shares of Capital Group Municipal Income ETF by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 81,614 shares of the company’s stock valued at $2,117,000 after purchasing an additional 610 shares during the last quarter. RFG Bristol Wealth Advisors LLC raised its holdings in shares of Capital Group Municipal Income ETF by 10.3% during the 3rd quarter. RFG Bristol Wealth Advisors LLC now owns 32,466 shares of the company’s stock worth $842,000 after acquiring an additional 3,040 shares during the period. Bill Few Associates Inc. lifted its holdings in Capital Group Municipal Income ETF by 27.9% in the third quarter. Bill Few Associates Inc. now owns 30,416 shares of the company’s stock valued at $789,000 after acquiring an additional 6,638 shares during the last quarter. Finally, Riversedge Advisors LLC acquired a new stake in shares of Capital Group Municipal Income ETF during the 3rd quarter worth about $464,000.

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.