Capital Group Municipal Income ETF (NYSEARCA:CGMU) Hits New 52-Week Low – Should You Sell?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.48 and last traded at $26.4850, with a volume of 2528689 shares. The stock had previously closed at $26.54.

Capital Group Municipal Income ETF Price Performance

The firm has a fifty day simple moving average of $27.04 and a 200 day simple moving average of $27.27.

Capital Group Municipal Income ETF Increases Dividend

The company 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 is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.0%.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGMU. Capital International Investors boosted its stake in Capital Group Municipal Income ETF by 1.6% during the 4th quarter. Capital International Investors now owns 46,328,510 shares of the company’s stock worth $1,268,475,000 after purchasing an additional 743,875 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Capital Group Municipal Income ETF by 15.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,596,372 shares of the company’s stock worth $207,989,000 after purchasing an additional 998,606 shares in the last quarter. LPL Financial LLC increased its holdings in Capital Group Municipal Income ETF by 28.0% in the 4th quarter. LPL Financial LLC now owns 6,756,622 shares of the company’s stock valued at $184,996,000 after purchasing an additional 1,479,528 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Capital Group Municipal Income ETF by 17.3% during the first quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock worth $132,429,000 after purchasing an additional 720,377 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in Capital Group Municipal Income ETF by 12.6% during the fourth quarter. MML Investors Services LLC now owns 2,377,012 shares of the company’s stock valued at $65,083,000 after buying an additional 265,406 shares in the last quarter.

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.