Capital Group Core Bond ETF (NYSEARCA:CGCB) Reaches New 1-Year Low – Here’s Why

Capital Group Core Bond ETF (NYSEARCA:CGCB)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $25.62 and last traded at $25.6350, with a volume of 340873 shares changing hands. The stock had previously closed at $25.69.

Capital Group Core Bond ETF Stock Down 0.7%

The stock has a 50 day simple moving average of $25.89 and a 200 day simple moving average of $26.17.

Capital Group Core Bond ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were issued a dividend of $0.1071 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. This is a positive change from Capital Group Core Bond ETF’s previous monthly dividend of $0.08. The ex-dividend date of this dividend was Friday, July 31st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CGCB. LPL Financial LLC lifted its position in shares of Capital Group Core Bond ETF by 30.4% during the 4th quarter. LPL Financial LLC now owns 22,259,688 shares of the company’s stock valued at $590,327,000 after acquiring an additional 5,195,824 shares during the last quarter. Capital International Investors grew its stake in Capital Group Core Bond ETF by 24.4% in the fourth quarter. Capital International Investors now owns 23,650,039 shares of the company’s stock valued at $627,199,000 after purchasing an additional 4,641,432 shares in the last quarter. Wells Fargo & Company MN raised its position in Capital Group Core Bond ETF by 92.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,905,361 shares of the company’s stock valued at $77,050,000 after acquiring an additional 1,395,908 shares in the last quarter. Bank of America Corp DE increased its position in Capital Group Core Bond ETF by 36.1% during the first quarter. Bank of America Corp DE now owns 3,646,178 shares of the company’s stock worth $95,749,000 after buying an additional 968,033 shares during the last quarter. Finally, Valmark Advisers Inc. grew its holdings in Capital Group Core Bond ETF by 82.5% during the first quarter. Valmark Advisers Inc. now owns 2,058,831 shares of the company’s stock valued at $54,065,000 after purchasing an additional 930,871 shares during the last quarter.

Capital Group Core Bond ETF Company Profile

The Capital Group Core Bond ETF (CGCB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests in US and non-US bonds rated as investment grade. Holdings may also include other debt securities and derivatives. CGCB was launched on Sep 26, 2023 and is issued by Capital Group.