Capital Group Municipal Income ETF (NYSEARCA:CGMU) Hits New 52-Week High – Time to Buy?

Shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.84 and last traded at $27.8350, with a volume of 284467 shares. The stock had previously closed at $27.82.

Capital Group Municipal Income ETF Price Performance

The stock has a 50-day moving average price of $27.52 and a two-hundred day moving average price of $27.31.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 30th were issued a dividend of $0.0675 per share. The ex-dividend date was Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 2.9%.

Institutional Trading of Capital Group Municipal Income ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGMU. Smartleaf Asset Management LLC purchased a new position in shares of Capital Group Municipal Income ETF in the third quarter worth about $42,000. Core Wealth Advisors LLC acquired a new position in Capital Group Municipal Income ETF in the 4th quarter worth approximately $48,000. CIBC Private Wealth Group LLC purchased a new position in shares of Capital Group Municipal Income ETF during the 3rd quarter valued at approximately $58,000. Ameriflex Group Inc. acquired a new stake in Capital Group Municipal Income ETF in the 3rd quarter valued at $67,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Capital Group Municipal Income ETF in the 4th quarter worth $78,000.

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.