Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Increase in Short Interest

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 453,297 shares, a growth of 129.0% from the April 15th total of 197,974 shares. Based on an average daily trading volume, of 1,048,456 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark Inc. boosted its position in shares of Capital Group Municipal Income ETF by 11.6% in the fourth quarter. Assetmark Inc. now owns 1,207,850 shares of the company’s stock worth $33,071,000 after buying an additional 125,592 shares during the period. Confluence Wealth Services Inc. boosted its holdings in Capital Group Municipal Income ETF by 49.8% in the fourth quarter. Confluence Wealth Services Inc. now owns 1,117,976 shares of the company’s stock valued at $30,610,000 after purchasing an additional 371,573 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Capital Group Municipal Income ETF by 762.4% in the third quarter. Arkadios Wealth Advisors now owns 70,353 shares of the company’s stock valued at $1,920,000 after purchasing an additional 62,195 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Capital Group Municipal Income ETF by 18.7% in the third quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock valued at $272,854,000 after purchasing an additional 1,573,897 shares during the last quarter. Finally, Bank of Marin purchased a new position in Capital Group Municipal Income ETF in the third quarter valued at about $607,000.

Capital Group Municipal Income ETF Price Performance

Shares of NYSEARCA CGMU traded down $0.11 on Friday, hitting $27.19. The company had a trading volume of 1,364,467 shares, compared to its average volume of 1,158,961. Capital Group Municipal Income ETF has a 12-month low of $26.44 and a 12-month high of $27.93. The business has a 50 day moving average of $27.38 and a two-hundred day moving average of $27.47.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were given a $0.0827 dividend. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a dividend yield of 3.6%.

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.