Avidian Wealth Enterprises LLC Takes $534,000 Position in Capital Group Municipal Income ETF $CGMU

Avidian Wealth Enterprises LLC bought a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the company’s stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CGMU. Pinnacle Bancorp Inc. increased its stake in shares of Capital Group Municipal Income ETF by 49.1% in the second quarter. Pinnacle Bancorp Inc. now owns 1,962 shares of the company’s stock valued at $52,000 after buying an additional 646 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Capital Group Municipal Income ETF by 37.5% in the first quarter. Golden State Wealth Management LLC now owns 3,391 shares of the company’s stock valued at $91,000 after buying an additional 925 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Capital Group Municipal Income ETF by 81.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,395 shares of the company’s stock valued at $117,000 after buying an additional 1,977 shares in the last quarter. Financial Perspectives Inc increased its stake in shares of Capital Group Municipal Income ETF by 301.6% in the second quarter. Financial Perspectives Inc now owns 5,008 shares of the company’s stock valued at $134,000 after buying an additional 3,761 shares in the last quarter. Finally, Carson Advisory Inc. acquired a new stake in shares of Capital Group Municipal Income ETF in the first quarter valued at $203,000.

Capital Group Municipal Income ETF Price Performance

Shares of NYSEARCA:CGMU opened at $27.50 on Thursday. Capital Group Municipal Income ETF has a 1-year low of $25.83 and a 1-year high of $27.51. The business has a 50-day moving average price of $27.14 and a two-hundred day moving average price of $26.78.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 29th were issued a dividend of $0.0718 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a c) annualized dividend and a yield of 3.1%. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

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.