Platt Wealth Management LLC Takes $3.24 Million Position in Capital Group Municipal Income ETF $CGMU

Platt Wealth Management LLC acquired a new stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 118,471 shares of the company’s stock, valued at approximately $3,243,000. Capital Group Municipal Income ETF comprises about 3.2% of Platt Wealth Management LLC’s holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its stake in shares of Capital Group Municipal Income ETF by 11.6% during the 4th quarter. Assetmark Inc. now owns 1,207,850 shares of the company’s stock valued at $33,071,000 after acquiring an additional 125,592 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Capital Group Municipal Income ETF by 49.8% during the 4th quarter. Confluence Wealth Services Inc. now owns 1,117,976 shares of the company’s stock worth $30,610,000 after buying an additional 371,573 shares during the last quarter. Bank of Marin acquired a new stake in shares of Capital Group Municipal Income ETF during the 3rd quarter worth $607,000. Legacy Private Trust Co. acquired a new stake in shares of Capital Group Municipal Income ETF during the 4th quarter worth $2,484,000. Finally, Arkadios Wealth Advisors increased its holdings in shares of Capital Group Municipal Income ETF by 762.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 70,353 shares of the company’s stock worth $1,920,000 after buying an additional 62,195 shares during the last quarter.

Capital Group Municipal Income ETF Price Performance

CGMU stock opened at $27.21 on Friday. The stock has a 50-day moving average price of $27.34 and a two-hundred day moving average price of $27.46. Capital Group Municipal Income ETF has a 12-month low of $26.44 and a 12-month high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 27th were given a dividend of $0.0827 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Friday, February 27th.

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.