Capital Group Growth ETF (NYSEARCA:CGGR) Sees Large Drop in Short Interest

Capital Group Growth ETF (NYSEARCA:CGGR) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 1,153,862 shares, a drop of 46.0% from the June 30th total of 2,137,051 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 2,692,502 shares, the days-to-cover ratio is currently 0.4 days.

Capital Group Growth ETF Stock Performance

Capital Group Growth ETF stock traded down $0.78 during mid-day trading on Wednesday, hitting $43.79. 3,086,139 shares of the company traded hands, compared to its average volume of 3,254,406. Capital Group Growth ETF has a one year low of $38.55 and a one year high of $48.02. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 30.88 and a beta of 1.17. The stock has a fifty day moving average price of $46.28 and a 200-day moving average price of $44.42.

Institutional Trading of Capital Group Growth ETF

Hedge funds have recently made changes to their positions in the stock. Triumph Capital Management bought a new position in Capital Group Growth ETF in the third quarter valued at $29,000. Mark Sheptoff Financial Planning LLC lifted its stake in Capital Group Growth ETF by 88.7% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,064 shares of the company’s stock worth $47,000 after purchasing an additional 500 shares during the last quarter. Avion Wealth bought a new stake in Capital Group Growth ETF during the fourth quarter worth about $68,000. Beacon Financial Strategies CORP purchased a new position in shares of Capital Group Growth ETF in the 2nd quarter worth about $80,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Capital Group Growth ETF in the 4th quarter worth about $78,000.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.