Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Capital Group Core Plus Income ETF (NYSEARCA:CGCP)’s share price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $21.59 and traded as high as $21.65. Capital Group Core Plus Income ETF shares last traded at $21.60, with a volume of 1,768,459 shares changing hands.

Capital Group Core Plus Income ETF Trading Down 0.1%

The stock’s fifty day moving average is $21.58 and its two-hundred day moving average is $22.19. The firm has a market cap of $8.57 billion, a P/E ratio of 10.69 and a beta of 0.32.

Capital Group Core Plus Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 30th will be paid a $0.0895 dividend. This is a drop from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.0925. This represents a $1.07 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, October 30th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CGCP. SYM FINANCIAL Corp acquired a new stake in shares of Capital Group Core Plus Income ETF in the third quarter valued at $31,000. CX Institutional purchased a new position in Capital Group Core Plus Income ETF in the second quarter valued at $35,000. Bessemer Group Inc. acquired a new position in Capital Group Core Plus Income ETF during the 1st quarter worth $45,000. Latitude Advisors LLC acquired a new stake in Capital Group Core Plus Income ETF in the 3rd quarter valued at about $44,000. Finally, Trust Co. of Vermont acquired a new stake in Capital Group Core Plus Income ETF in the 2nd quarter valued at about $110,000.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.