Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 1-Year Low – Should You Sell?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares reached a new 52-week low during trading on Monday . The stock traded as low as $26.42 and last traded at $26.5050, with a volume of 2806430 shares trading hands. The stock had previously closed at $26.48.

Capital Group Municipal Income ETF Stock Up 0.0%

The stock has a 50 day moving average of $27.00 and a two-hundred day moving average of $27.25.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were given a dividend of $0.0878 per share. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, July 31st. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in CGMU. CoreCap Advisors LLC increased its holdings in shares of 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 valued at $29,000 after purchasing an additional 908 shares in the last quarter. Core Wealth Advisors LLC purchased a new stake in Capital Group Municipal Income ETF during the fourth quarter worth about $48,000. Capital Asset Advisory Services LLC purchased a new stake in Capital Group Municipal Income ETF during the first quarter worth about $211,000. Mayflower Financial Advisors LLC acquired a new position in Capital Group Municipal Income ETF during the first quarter worth about $216,000. Finally, Affiance Financial LLC acquired a new position in Capital Group Municipal Income ETF during the second quarter worth about $219,000.

Capital Group Municipal Income ETF Company Profile

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.