Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Strong Trading Volume – Here’s What Happened

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw unusually-high trading volume on Wednesday . Approximately 3,723,896 shares traded hands during trading, an increase of 223% from the previous session’s volume of 1,152,509 shares.The stock last traded at $26.82 and had previously closed at $26.82.

Capital Group Municipal Income ETF Price Performance

The company’s 50 day moving average price is $27.22 and its two-hundred day moving average price is $27.37.

Institutional Trading of Capital Group Municipal Income ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC lifted its stake in Capital Group Municipal Income ETF by 672.6% in the 2nd quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after purchasing an additional 908 shares in the last quarter. Core Wealth Advisors LLC bought a new position in shares of Capital Group Municipal Income ETF during the 4th quarter valued at approximately $48,000. CIBC Private Wealth Group LLC bought a new position in Capital Group Municipal Income ETF during the third quarter valued at $58,000. Advisory Services Network LLC purchased a new position in Capital Group Municipal Income ETF in the third quarter worth about $129,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 4th quarter worth approximately $166,000.

About Capital Group Municipal Income ETF

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.