Capital Group Growth ETF (NYSEARCA:CGGR) Reaches New 12-Month High – Time to Buy?

Capital Group Growth ETF (NYSEARCA:CGGR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.83 and last traded at $46.81, with a volume of 353933 shares changing hands. The stock had previously closed at $46.06.

Capital Group Growth ETF Trading Up 1.7%

The stock has a market capitalization of $23.28 billion, a PE ratio of 30.88 and a beta of 1.17. The company’s 50-day moving average is $43.34 and its 200 day moving average is $43.71.

Hedge Funds Weigh In On Capital Group Growth ETF

A number of institutional investors have recently bought and sold shares of CGGR. Morgan Stanley raised its position in Capital Group Growth ETF by 94.6% during the 4th quarter. Morgan Stanley now owns 26,878,644 shares of the company’s stock worth $1,195,293,000 after buying an additional 13,065,920 shares during the last quarter. LPL Financial LLC raised its position in Capital Group Growth ETF by 17.7% during the 4th quarter. LPL Financial LLC now owns 45,411,053 shares of the company’s stock worth $2,019,429,000 after buying an additional 6,814,693 shares during the last quarter. Raymond James Financial Inc. raised its position in Capital Group Growth ETF by 31.7% during the 3rd quarter. Raymond James Financial Inc. now owns 11,144,965 shares of the company’s stock worth $489,487,000 after buying an additional 2,680,056 shares during the last quarter. Wells Fargo & Company MN raised its position in Capital Group Growth ETF by 26.2% during the 4th quarter. Wells Fargo & Company MN now owns 12,423,660 shares of the company’s stock worth $552,480,000 after buying an additional 2,580,345 shares during the last quarter. Finally, Advance Capital Management Inc. raised its position in Capital Group Growth ETF by 239.5% during the 1st quarter. Advance Capital Management Inc. now owns 2,860,148 shares of the company’s stock worth $114,949,000 after buying an additional 2,017,650 shares during the last quarter.

Capital Group Growth ETF Company Profile

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.