Capital Group Municipal Income ETF (NYSEARCA:CGMU) Shares Shorted: Short Interest Up 701.9% in October

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a significant increase in short interest in October. As of October 30th, there was short interest totaling 1,191,983 shares, an increase of 701.9% from the October 15th total of 148,648 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 3,400,208 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGMU. CoreCap Advisors LLC boosted its position in Capital Group Municipal Income ETF by 672.6% in the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock valued at $29,000 after buying an additional 908 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of Capital Group Municipal Income ETF by 52.3% during the third quarter. Pinnacle Bancorp Inc. now owns 2,826 shares of the company’s stock worth $73,000 after buying an additional 970 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Capital Group Municipal Income ETF during the third quarter worth $97,000. Signature Equity Partners LLC bought a new stake in shares of Capital Group Municipal Income ETF during the third quarter worth $129,000. Finally, MBE Wealth Management LLC acquired a new position in shares of Capital Group Municipal Income ETF during the third quarter worth $203,000.

Capital Group Municipal Income ETF Price Performance

CGMU stock opened at $26.93 on Wednesday. The firm has a 50-day moving average price of $26.45 and a 200-day moving average price of $27.16. Capital Group Municipal Income ETF has a 12 month low of $25.73 and a 12 month high of $27.93.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 30th were given a dividend of $0.0763 per share. The ex-dividend date was Friday, October 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.4%. This is a negative change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773.

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.