Capital Group Municipal Income ETF (NYSEARCA:CGMU) Stock Short Interest Declines 92.9%

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 148,648 shares, a decrease of 92.9% from the September 30th total of 2,103,061 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 4,580,170 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC increased its holdings in shares of Capital Group Municipal Income ETF by 114.7% during the 3rd quarter. Stonebridge Financial Group LLC now owns 765,597 shares of the company’s stock worth $19,860,000 after buying an additional 408,964 shares during the last quarter. Independent Financial Group LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 1st quarter worth $527,000. Western Wealth Management LLC raised its position in shares of Capital Group Municipal Income ETF by 91.3% in the 1st quarter. Western Wealth Management LLC now owns 59,505 shares of the company’s stock worth $1,616,000 after buying an additional 28,404 shares during the period. NewEdge Advisors LLC raised its position in shares of Capital Group Municipal Income ETF by 24.6% in the 1st quarter. NewEdge Advisors LLC now owns 224,262 shares of the company’s stock worth $6,089,000 after buying an additional 44,220 shares during the period. Finally, Cornerstone Advisors Asset Management LLC boosted its holdings in Capital Group Municipal Income ETF by 23.9% in the second quarter. Cornerstone Advisors Asset Management LLC now owns 223,595 shares of the company’s stock valued at $6,142,000 after acquiring an additional 43,156 shares during the last quarter.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU traded up $0.10 during mid-day trading on Monday, hitting $26.72. The company had a trading volume of 2,930,959 shares, compared to its average volume of 1,585,303. The business’s 50-day simple moving average is $26.51 and its 200-day simple moving average is $27.04. Capital Group Municipal Income ETF has a 1-year low of $25.73 and a 1-year high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

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

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.