Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sees Significant Growth in Short Interest

Capital Group Core Plus Income ETF (NYSEARCA:CGCP) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 1,001,927 shares, a growth of 326.8% from the April 30th total of 234,739 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 1,749,419 shares, the short-interest ratio is currently 0.6 days.

Capital Group Core Plus Income ETF Stock Performance

NYSEARCA CGCP opened at $22.39 on Friday. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 10.69 and a beta of 0.33. The company’s 50-day simple moving average is $22.38 and its two-hundred day simple moving average is $22.59. Capital Group Core Plus Income ETF has a one year low of $22.02 and a one year high of $23.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGCP. Integrated Wealth Concepts LLC grew its position in shares of Capital Group Core Plus Income ETF by 63.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 14,920 shares of the company’s stock worth $335,000 after buying an additional 5,790 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Capital Group Core Plus Income ETF in the 1st quarter worth approximately $2,904,000. Focus Partners Wealth purchased a new position in shares of Capital Group Core Plus Income ETF in the 1st quarter worth approximately $313,000. JPMorgan Chase & Co. grew its position in shares of Capital Group Core Plus Income ETF by 25.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 57,428 shares of the company’s stock worth $1,292,000 after buying an additional 11,516 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Capital Group Core Plus Income ETF by 79.1% in the 2nd quarter. NewEdge Advisors LLC now owns 177,883 shares of the company’s stock worth $4,002,000 after buying an additional 78,553 shares during the last quarter.

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.