Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Sees Significant Drop in Short Interest

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 468,542 shares, a decline of 43.5% from the August 31st total of 829,307 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 525,334 shares, the days-to-cover ratio is presently 0.9 days.

Capital Group New Geography Equity ETF Stock Down 0.8%

CGNG stock traded down $0.30 during trading hours on Wednesday, hitting $36.48. The company’s stock had a trading volume of 439,093 shares, compared to its average volume of 631,547. The stock has a 50 day moving average price of $36.51 and a two-hundred day moving average price of $35.52. Capital Group New Geography Equity ETF has a 12 month low of $30.13 and a 12 month high of $38.25. The company has a market capitalization of $3.12 billion, a PE ratio of 19.57 and a beta of 0.84.

Hedge Funds Weigh In On Capital Group New Geography Equity ETF

Hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its holdings in Capital Group New Geography Equity ETF by 30.7% during the second quarter. Baird Financial Group Inc. now owns 508,549 shares of the company’s stock valued at $19,050,000 after acquiring an additional 119,487 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Capital Group New Geography Equity ETF in the second quarter valued at about $827,000. J. Derek Lewis & Associates Inc. bought a new position in shares of Capital Group New Geography Equity ETF in the fourth quarter worth about $3,362,000. Founders Financial Securities LLC increased its stake in shares of Capital Group New Geography Equity ETF by 90.5% in the first quarter. Founders Financial Securities LLC now owns 78,881 shares of the company’s stock worth $2,648,000 after purchasing an additional 37,478 shares during the period. Finally, Stonebridge Financial Group LLC lifted its position in shares of Capital Group New Geography Equity ETF by 39.1% during the 2nd quarter. Stonebridge Financial Group LLC now owns 108,734 shares of the company’s stock worth $4,073,000 after purchasing an additional 30,590 shares during the last quarter.

Capital Group New Geography Equity ETF Company Profile

The Capital Group New Geography Equity ETF (CGNG) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking long-term capital appreciation through investment in companies from the emerging markets, may include frontier markets securities. CGNG was launched on Jun 25, 2024 and is issued by Capital Group.