484,736 Capital Group Short Duration Municipal Income ETF $CGSM Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its stake in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) by 97.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,862 shares of the company’s stock after selling 484,736 shares during the quarter. Park Avenue Securities LLC’s holdings in Capital Group Short Duration Municipal Income ETF were worth $382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in Capital Group Short Duration Municipal Income ETF by 7.6% during the second quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock valued at $83,125,000 after acquiring an additional 221,888 shares in the last quarter. Cetera Investment Advisers lifted its stake in Capital Group Short Duration Municipal Income ETF by 41.1% in the 1st quarter. Cetera Investment Advisers now owns 989,257 shares of the company’s stock worth $25,998,000 after purchasing an additional 288,245 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 85.2% during the 1st quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock valued at $8,570,000 after purchasing an additional 150,064 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 251.2% during the 1st quarter. Kestra Advisory Services LLC now owns 310,024 shares of the company’s stock valued at $8,147,000 after purchasing an additional 221,749 shares during the last quarter. Finally, Financial Connections Group Inc. boosted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 7.8% during the 1st quarter. Financial Connections Group Inc. now owns 190,872 shares of the company’s stock valued at $5,016,000 after purchasing an additional 13,758 shares during the last quarter.

Capital Group Short Duration Municipal Income ETF Price Performance

Shares of Capital Group Short Duration Municipal Income ETF stock remained flat at $26.25 during trading on Friday. The stock had a trading volume of 1,375,177 shares, compared to its average volume of 375,774. The firm’s 50-day moving average price is $26.01 and its two-hundred day moving average price is $26.30. Capital Group Short Duration Municipal Income ETF has a 52-week low of $25.59 and a 52-week high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were paid a $0.0635 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, October 30th. This is a negative change from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640.

Capital Group Short Duration Municipal Income ETF Company Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.