Capital Group Municipal Income ETF (NYSEARCA:CGMU) Reaches New 1-Year High – Time to Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares reached a new 52-week high on Monday . The stock traded as high as $27.86 and last traded at $27.8650, with a volume of 820583 shares traded. The stock had previously closed at $27.83.

Capital Group Municipal Income ETF Trading Up 0.1%

The business has a 50-day moving average price of $27.58 and a 200-day moving average price of $27.36.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 30th were issued a dividend of $0.0675 per share. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, January 30th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CGMU. Jane Street Group LLC lifted its position in shares of Capital Group Municipal Income ETF by 23.6% in the 1st quarter. Jane Street Group LLC now owns 228,094 shares of the company’s stock valued at $6,117,000 after acquiring an additional 43,538 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Capital Group Municipal Income ETF during the 2nd quarter worth approximately $241,000. Strategic Blueprint LLC acquired a new stake in Capital Group Municipal Income ETF during the 2nd quarter valued at $219,000. Envestnet Asset Management Inc. raised its stake in Capital Group Municipal Income ETF by 13.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,424,405 shares of the company’s stock valued at $224,847,000 after purchasing an additional 1,017,473 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Capital Group Municipal Income ETF by 31.0% in the second quarter. Ashton Thomas Private Wealth LLC now owns 151,672 shares of the company’s stock valued at $4,048,000 after purchasing an additional 35,906 shares in the last quarter.

Capital Group Municipal Income ETF Company Profile

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.