Capital Group Dividend Growers ETF (NYSEARCA:CGDG) Shares Cross Above Fifty Day Moving Average – Here’s Why

Capital Group Dividend Growers ETF (NYSEARCA:CGDG)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $38.02 and traded as high as $38.15. Capital Group Dividend Growers ETF shares last traded at $38.08, with a volume of 589,815 shares.

Capital Group Dividend Growers ETF Trading Up 0.6%

The business’s fifty day moving average price is $38.02 and its 200-day moving average price is $37.40. The company has a market capitalization of $5.88 billion, a P/E ratio of 20.18 and a beta of 0.50.

Capital Group Dividend Growers ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Wednesday, September 30th were paid a $0.1611 dividend. This is a drop from Capital Group Dividend Growers ETF’s previous quarterly dividend of $0.3865. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional Investors Weigh In On Capital Group Dividend Growers ETF

Hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its holdings in shares of Capital Group Dividend Growers ETF by 1,458.3% in the 2nd quarter. CoreCap Advisors LLC now owns 748 shares of the company’s stock worth $28,000 after purchasing an additional 700 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Capital Group Dividend Growers ETF during the 1st quarter valued at about $50,000. CX Institutional raised its holdings in shares of Capital Group Dividend Growers ETF by 121.3% during the 2nd quarter. CX Institutional now owns 1,737 shares of the company’s stock valued at $65,000 after buying an additional 952 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Capital Group Dividend Growers ETF by 17.3% in the 1st quarter. Sunbelt Securities Inc. now owns 2,698 shares of the company’s stock worth $97,000 after buying an additional 398 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Capital Group Dividend Growers ETF in the 2nd quarter worth approximately $119,000.

About Capital Group Dividend Growers ETF

The Capital Group Dividend Growers ETF (CGDG) is an exchange-traded fund that mostly invests in total market equity. The fund actively selects dividend-paying companies globally that are attractively valued and believed to provide dividend growth. It employs a multi-manager approach to portfolio management. CGDG was launched on Sep 26, 2023 and is issued by Capital Group.