Capital Group Core Bond ETF (NYSEARCA:CGCB) Hits New 1-Year Low – What’s Next?

Capital Group Core Bond ETF (NYSEARCA:CGCB) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $25.38 and last traded at $25.3650, with a volume of 112996 shares changing hands. The stock had previously closed at $25.53.

Capital Group Core Bond ETF Trading Down 0.6%

The business has a fifty day moving average price of $25.77 and a 200 day moving average price of $26.07.

Capital Group Core Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were paid a dividend of $0.1071 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Capital Group Core Bond ETF’s previous monthly dividend of $0.0806. This represents a $1.29 annualized dividend and a yield of 5.1%.

Institutional Investors Weigh In On Capital Group Core Bond ETF

A number of hedge funds have recently made changes to their positions in CGCB. Capital International Investors increased its position in Capital Group Core Bond ETF by 24.4% during the 4th quarter. Capital International Investors now owns 23,650,039 shares of the company’s stock worth $627,199,000 after purchasing an additional 4,641,432 shares in the last quarter. LPL Financial LLC boosted its position in Capital Group Core Bond ETF by 30.4% in the fourth quarter. LPL Financial LLC now owns 22,259,688 shares of the company’s stock valued at $590,327,000 after buying an additional 5,195,824 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Capital Group Core Bond ETF by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 7,721,547 shares of the company’s stock valued at $202,150,000 after buying an additional 841,106 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Capital Group Core Bond ETF by 17.7% during the first quarter. Cetera Investment Advisers now owns 3,932,344 shares of the company’s stock worth $103,263,000 after buying an additional 591,197 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Capital Group Core Bond ETF by 2.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,889,956 shares of the company’s stock worth $103,162,000 after buying an additional 98,583 shares in the last quarter.

About Capital Group Core Bond ETF

The Capital Group Core Bond ETF (CGCB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests in US and non-US bonds rated as investment grade. Holdings may also include other debt securities and derivatives. CGCB was launched on Sep 26, 2023 and is issued by Capital Group.