Short Interest in Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Decreases By 57.2%

Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 355,907 shares, a decline of 57.2% from the May 31st total of 831,351 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,211,484 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CGGO. Capital Group Private Client Services Inc. raised its position in shares of Capital Group Global Growth Equity ETF by 4.1% in the 4th quarter. Capital Group Private Client Services Inc. now owns 21,118,680 shares of the company’s stock worth $731,762,000 after acquiring an additional 839,808 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Capital Group Global Growth Equity ETF by 2,846.3% during the 4th quarter. Corient Private Wealth LLC now owns 20,211,701 shares of the company’s stock valued at $700,335,000 after purchasing an additional 19,525,691 shares in the last quarter. LPL Financial LLC boosted its position in shares of Capital Group Global Growth Equity ETF by 14.9% during the 4th quarter. LPL Financial LLC now owns 15,068,808 shares of the company’s stock valued at $522,134,000 after purchasing an additional 1,958,085 shares in the last quarter. Raymond James Financial Inc. grew its stake in Capital Group Global Growth Equity ETF by 9.3% during the fourth quarter. Raymond James Financial Inc. now owns 13,130,315 shares of the company’s stock worth $454,965,000 after purchasing an additional 1,121,445 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Capital Group Global Growth Equity ETF by 0.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,053,425 shares of the company’s stock worth $383,001,000 after purchasing an additional 34,680 shares during the period.

Capital Group Global Growth Equity ETF Price Performance

NYSEARCA CGGO traded down $0.89 during trading hours on Wednesday, reaching $41.44. The company’s stock had a trading volume of 959,703 shares, compared to its average volume of 1,340,194. The firm has a fifty day simple moving average of $39.83 and a 200-day simple moving average of $37.00. The stock has a market cap of $11.21 billion, a P/E ratio of 22.37 and a beta of 1.02. Capital Group Global Growth Equity ETF has a 52 week low of $31.60 and a 52 week high of $42.88.

About Capital Group Global Growth Equity ETF

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.