Capital Group Global Equity ETF (NYSEARCA:CGGE) Sees Significant Decline in Short Interest

Capital Group Global Equity ETF (NYSEARCA:CGGE) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 204,697 shares, a decline of 53.7% from the April 15th total of 441,939 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 566,360 shares, the days-to-cover ratio is presently 0.4 days.

Capital Group Global Equity ETF Stock Down 1.6%

Capital Group Global Equity ETF stock traded down $0.56 during mid-day trading on Friday, hitting $33.40. The company’s stock had a trading volume of 387,447 shares, compared to its average volume of 802,577. The stock has a market capitalization of $2.53 billion, a P/E ratio of 24.18 and a beta of 0.82. Capital Group Global Equity ETF has a twelve month low of $27.44 and a twelve month high of $34.02. The stock’s fifty day moving average price is $32.01 and its two-hundred day moving average price is $31.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Gateway Wealth Partners LLC grew its position in Capital Group Global Equity ETF by 410.0% during the 1st quarter. Gateway Wealth Partners LLC now owns 356,920 shares of the company’s stock worth $10,886,000 after purchasing an additional 286,935 shares in the last quarter. CLG LLC grew its position in Capital Group Global Equity ETF by 8.4% during the 1st quarter. CLG LLC now owns 27,726 shares of the company’s stock worth $846,000 after purchasing an additional 2,155 shares in the last quarter. Cetera Investment Advisers grew its position in Capital Group Global Equity ETF by 16.3% during the 1st quarter. Cetera Investment Advisers now owns 3,285,183 shares of the company’s stock worth $100,198,000 after purchasing an additional 459,321 shares in the last quarter. World Equity Group Inc. purchased a new position in Capital Group Global Equity ETF during the 1st quarter worth approximately $363,000. Finally, Assetmark Inc. grew its position in Capital Group Global Equity ETF by 17.9% during the 1st quarter. Assetmark Inc. now owns 1,429,913 shares of the company’s stock worth $43,612,000 after purchasing an additional 216,961 shares in the last quarter.

Capital Group Global Equity ETF Company Profile

The Capital Group Global Equity ETF (CGGE) is an exchange-traded fund that mostly invests in total market equity. The fund seeks total returns by actively managing a portfolio of companies from around the world. CGGE was launched on Jun 25, 2024 and is issued by Capital Group.