Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Significant Increase in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 108,071 shares, an increase of 3,287.8% from the April 15th total of 3,190 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 243,753 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Capital Group Short Duration Municipal Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGSM. Baird Financial Group Inc. acquired a new stake in Capital Group Short Duration Municipal Income ETF during the first quarter valued at $242,000. Royal Bank of Canada grew its position in Capital Group Short Duration Municipal Income ETF by 31.5% during the first quarter. Royal Bank of Canada now owns 139,130 shares of the company’s stock valued at $3,619,000 after buying an additional 33,367 shares during the period. Jane Street Group LLC grew its position in shares of Capital Group Short Duration Municipal Income ETF by 327.9% in the first quarter. Jane Street Group LLC now owns 117,653 shares of the company’s stock valued at $3,060,000 after purchasing an additional 90,157 shares during the period. Sei Investments Co. acquired a new stake in shares of Capital Group Short Duration Municipal Income ETF in the second quarter valued at about $606,000. Finally, Raymond James Financial Inc. grew its position in shares of Capital Group Short Duration Municipal Income ETF by 176.4% in the second quarter. Raymond James Financial Inc. now owns 104,881 shares of the company’s stock valued at $2,735,000 after purchasing an additional 66,933 shares during the period.

Capital Group Short Duration Municipal Income ETF Stock Performance

CGSM stock remained flat at $26.34 during midday trading on Monday. 201,796 shares of the company traded hands, compared to its average volume of 271,438. The company’s fifty day moving average is $26.40 and its two-hundred day moving average is $26.42. Capital Group Short Duration Municipal Income ETF has a 52 week low of $25.87 and a 52 week high of $26.68.

Capital Group Short Duration Municipal Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 27th were given a dividend of $0.0667 per share. This is a boost from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, February 27th.

About Capital Group Short Duration Municipal Income ETF

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.