Capital Group Dividend Growers ETF (NYSEARCA:CGDG) Sees Large Decline in Short Interest

Capital Group Dividend Growers ETF (NYSEARCA:CGDG) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 277,231 shares, a decrease of 55.7% from the September 30th total of 625,658 shares. Based on an average trading volume of 746,122 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the company’s shares are sold short.

Capital Group Dividend Growers ETF Price Performance

Shares of NYSEARCA:CGDG traded down $0.12 during mid-day trading on Friday, reaching $38.43. 898,860 shares of the company were exchanged, compared to its average volume of 692,259. Capital Group Dividend Growers ETF has a 1 year low of $34.24 and a 1 year high of $39.15. The firm’s 50-day simple moving average is $37.97 and its 200 day simple moving average is $37.45. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 20.18 and a beta of 0.50.

Capital Group Dividend Growers ETF Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CGDG. Valmark Advisers Inc. grew its position in Capital Group Dividend Growers ETF by 186.1% during the 1st quarter. Valmark Advisers Inc. now owns 2,079,344 shares of the company’s stock worth $74,648,000 after purchasing an additional 1,352,510 shares during the last quarter. Cetera Investment Advisers increased its stake in Capital Group Dividend Growers ETF by 20.1% in the first quarter. Cetera Investment Advisers now owns 3,870,449 shares of the company’s stock valued at $138,949,000 after purchasing an additional 648,834 shares during the period. KWB Wealth acquired a new position in Capital Group Dividend Growers ETF in the third quarter valued at $15,442,000. Sei Investments Co. raised its holdings in shares of Capital Group Dividend Growers ETF by 36.5% in the first quarter. Sei Investments Co. now owns 1,188,191 shares of the company’s stock valued at $42,656,000 after buying an additional 317,794 shares during the last quarter. Finally, Compton Financial Group LLC raised its holdings in shares of Capital Group Dividend Growers ETF by 1,969.0% in the first quarter. Compton Financial Group LLC now owns 299,323 shares of the company’s stock valued at $10,746,000 after buying an additional 284,856 shares during the last quarter.

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.