Capital Group Dividend Growers ETF (NYSEARCA:CGDG) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Shares of Capital Group Dividend Growers ETF (NYSEARCA:CGDG) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $37.91 and traded as high as $38.73. Capital Group Dividend Growers ETF shares last traded at $38.62, with a volume of 515,485 shares trading hands.

Capital Group Dividend Growers ETF Stock Up 2.1%

The stock’s 50 day moving average is $37.91 and its two-hundred day moving average is $37.50. The company has a market capitalization of $5.97 billion, a PE ratio of 20.18 and a beta of 0.48.

Capital Group Dividend Growers ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 30th were issued a $0.1611 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.7%. This is a decrease from Capital Group Dividend Growers ETF’s previous quarterly dividend of $0.3865.

Institutional Investors Weigh In On Capital Group Dividend Growers ETF

Hedge funds have recently modified their holdings of the business. Confluence Wealth Services Inc. raised its stake in Capital Group Dividend Growers ETF by 21.5% in the third quarter. Confluence Wealth Services Inc. now owns 3,952,447 shares of the company’s stock worth $146,359,000 after buying an additional 699,848 shares in the last quarter. Cetera Investment Advisers boosted its position in Capital Group Dividend Growers ETF by 20.1% during the first quarter. Cetera Investment Advisers now owns 3,870,449 shares of the company’s stock valued at $138,949,000 after purchasing an additional 648,834 shares in the last quarter. KWB Wealth bought a new stake in Capital Group Dividend Growers ETF during the third quarter valued at about $15,442,000. Sei Investments Co. grew its stake in Capital Group Dividend Growers ETF by 36.5% in the first quarter. Sei Investments Co. now owns 1,188,191 shares of the company’s stock valued at $42,656,000 after purchasing an additional 317,794 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Capital Group Dividend Growers ETF by 11.5% in the first quarter. Royal Bank of Canada now owns 2,597,678 shares of the company’s stock valued at $93,258,000 after purchasing an additional 266,980 shares during the last quarter.

About Capital Group Dividend Growers ETF

The Capital Group Dividend Growers ETF (CGDG) is an exchange-traded fund that mostly invests in total market equity. The fund actively selects dividend-paying companies globally that are attractively valued and believed to provide dividend growth. It employs a multi-manager approach to portfolio management. CGDG was launched on Sep 26, 2023 and is issued by Capital Group.