Capital Group Municipal Income ETF (NYSEARCA:CGMU) Shares Shorted: Short Interest Up 701.9% in October

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 1,191,983 shares, an increase of 701.9% from the October 15th total of 148,648 shares. Based on an average trading volume of 3,400,208 shares, the short-interest ratio is presently 0.4 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Trading of Capital Group Municipal Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Advisory Services Inc. bought a new position in shares of Capital Group Municipal Income ETF in the third quarter worth about $87,709,000. Benjamin Edwards Inc. purchased a new stake in Capital Group Municipal Income ETF in the 3rd quarter worth approximately $12,990,000. DiPaolo Financial Group Inc. increased its holdings in Capital Group Municipal Income ETF by 5.2% in the 3rd quarter. DiPaolo Financial Group Inc. now owns 12,104 shares of the company’s stock worth $314,000 after acquiring an additional 603 shares in the last quarter. Private Advisor Group LLC increased its holdings in Capital Group Municipal Income ETF by 41.2% in the 3rd quarter. Private Advisor Group LLC now owns 1,020,237 shares of the company’s stock worth $26,465,000 after acquiring an additional 297,707 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC bought a new stake in Capital Group Municipal Income ETF during the 3rd quarter worth approximately $431,000.

Capital Group Municipal Income ETF Stock Performance

NYSEARCA:CGMU opened at $26.77 on Friday. Capital Group Municipal Income ETF has a one year low of $25.73 and a one year high of $27.93. The business has a fifty day moving average price of $26.45 and a 200-day moving average price of $27.15.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were issued a dividend of $0.0763 per share. This is a drop from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, October 30th.

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.