Capital Group Municipal Income ETF (NYSEARCA:CGMU – Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 246,185 shares, a decrease of 61.1% from the July 30th total of 632,760 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 1,112,986 shares, the days-to-cover ratio is presently 0.2 days.
Capital Group Municipal Income ETF Stock Performance
Shares of NYSEARCA:CGMU traded down $0.03 on Friday, hitting $27.04. 1,175,606 shares of the company were exchanged, compared to its average volume of 1,136,348. The company’s 50 day moving average price is $27.24 and its two-hundred day moving average price is $27.38. Capital Group Municipal Income ETF has a one year low of $26.72 and a one year high of $27.93.
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 lifted its position in shares of Capital Group Municipal Income ETF by 672.6% in the 2nd quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after acquiring an additional 908 shares during the period. Core Wealth Advisors LLC acquired a new position in shares of Capital Group Municipal Income ETF in the fourth quarter valued at $48,000. CIBC Private Wealth Group LLC bought a new position in Capital Group Municipal Income ETF in the third quarter worth $58,000. Advisory Services Network LLC bought a new position in Capital Group Municipal Income ETF in the third quarter worth $129,000. Finally, Quadrant Capital Group LLC acquired a new stake in Capital Group Municipal Income ETF during the fourth quarter worth $166,000.
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.
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