Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Short Interest Down 45.1% in August

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 43,635 shares, a drop of 45.1% from the July 30th total of 79,422 shares. Based on an average daily trading volume, of 220,665 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC acquired a new position in shares of Capital Group Short Duration Municipal Income ETF during the 2nd quarter worth about $42,000. JPMorgan Chase & Co. grew its holdings in Capital Group Short Duration Municipal Income ETF by 409.6% during the third quarter. JPMorgan Chase & Co. now owns 1,641 shares of the company’s stock worth $43,000 after purchasing an additional 1,319 shares during the period. Comerica Bank grew its holdings in Capital Group Short Duration Municipal Income ETF by 248.5% during the third quarter. Comerica Bank now owns 2,973 shares of the company’s stock worth $78,000 after purchasing an additional 2,120 shares during the period. Ashton Thomas Securities LLC bought a new position in Capital Group Short Duration Municipal Income ETF during the first quarter worth about $101,000. Finally, HB Wealth Management LLC acquired a new position in Capital Group Short Duration Municipal Income ETF during the second quarter worth approximately $203,000.

Capital Group Short Duration Municipal Income ETF Price Performance

CGSM traded down $0.03 during trading on Friday, reaching $26.30. 148,459 shares of the stock were exchanged, compared to its average volume of 331,122. Capital Group Short Duration Municipal Income ETF has a twelve month low of $26.18 and a twelve month high of $26.68. The stock’s 50 day moving average price is $26.33 and its two-hundred day moving average price is $26.38.

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.