Entrust Financial LLC Buys 475,018 Shares of Capital Group Municipal Income ETF $CGMU

Entrust Financial LLC raised its stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 7,856.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 481,064 shares of the company’s stock after buying an additional 475,018 shares during the period. Capital Group Municipal Income ETF comprises about 6.1% of Entrust Financial LLC’s portfolio, making the stock its 5th biggest position. Entrust Financial LLC owned 0.17% of Capital Group Municipal Income ETF worth $12,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Capital Group Municipal Income ETF by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock worth $376,376,000 after acquiring an additional 859,323 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Capital Group Municipal Income ETF by 17.3% in the first quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock valued at $132,429,000 after acquiring an additional 720,377 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in Capital Group Municipal Income ETF in the third quarter valued at approximately $81,186,000. Bank of America Corp DE boosted its holdings in Capital Group Municipal Income ETF by 119.9% in the first quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock valued at $46,052,000 after acquiring an additional 924,704 shares during the last quarter. Finally, Blue Chip Partners LLC boosted its holdings in Capital Group Municipal Income ETF by 1.1% in the first quarter. Blue Chip Partners LLC now owns 1,653,001 shares of the company’s stock valued at $44,879,000 after acquiring an additional 17,316 shares during the last quarter.

Capital Group Municipal Income ETF Stock Performance

Capital Group Municipal Income ETF stock opened at $26.97 on Monday. Capital Group Municipal Income ETF has a 52-week low of $25.73 and a 52-week high of $27.93. The firm has a 50 day moving average price of $26.45 and a two-hundred day moving average price of $27.16.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were given a dividend of $0.0763 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.4%. This is a drop from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. The ex-dividend date was Friday, October 30th.

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.