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

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 653,893 shares, a growth of 165.6% from the August 15th total of 246,185 shares. Based on an average daily volume of 1,260,350 shares, the short-interest ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC lifted its stake in 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 valued at $29,000 after purchasing an additional 908 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in Capital Group Municipal Income ETF in the fourth quarter valued at approximately $48,000. CIBC Private Wealth Group LLC bought a new stake in shares of Capital Group Municipal Income ETF during the third quarter worth $58,000. Advisory Services Network LLC bought a new stake in shares of Capital Group Municipal Income ETF during the third quarter worth $129,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of Capital Group Municipal Income ETF during the fourth quarter worth $166,000.

Capital Group Municipal Income ETF Trading Up 0.3%

Shares of CGMU opened at $26.56 on Friday. Capital Group Municipal Income ETF has a 52-week low of $26.48 and a 52-week high of $27.93. The business’s fifty day moving average is $27.10 and its 200-day moving average is $27.31.

Capital Group Municipal Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were paid a $0.0878 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, July 31st. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

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.