Sowell Financial Services LLC Trims Stake in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS)

Sowell Financial Services LLC reduced its position in shares of Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,670 shares of the company’s stock after selling 845 shares during the period. Sowell Financial Services LLC’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $1,274,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CGMS. LPL Financial LLC grew its position in Capital Group U.S. Multi-Sector Income ETF by 70.2% during the fourth quarter. LPL Financial LLC now owns 5,445,346 shares of the company’s stock worth $148,549,000 after buying an additional 2,245,608 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 55.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,993,651 shares of the company’s stock worth $81,667,000 after purchasing an additional 1,068,144 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 22.5% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,045,489 shares of the company’s stock worth $55,801,000 after purchasing an additional 376,054 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 40.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,913,313 shares of the company’s stock worth $52,195,000 after purchasing an additional 546,392 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 13.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,818,245 shares of the company’s stock worth $49,638,000 after purchasing an additional 219,940 shares in the last quarter.

Capital Group U.S. Multi-Sector Income ETF Price Performance

Shares of NYSEARCA:CGMS opened at $27.38 on Wednesday. The company’s fifty day moving average price is $27.04 and its 200-day moving average price is $27.28. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 10.71 and a beta of 0.35. Capital Group U.S. Multi-Sector Income ETF has a one year low of $26.08 and a one year high of $28.00.

Capital Group U.S. Multi-Sector Income ETF Increases Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 28th were given a $0.1376 dividend. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from Capital Group U.S. Multi-Sector Income ETF’s previous dividend of $0.11.

Capital Group U.S. Multi-Sector Income ETF Company Profile

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.