Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Sees Large Growth in Short Interest

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,287,052 shares, a growth of 515.2% from the May 14th total of 209,205 shares. Based on an average daily trading volume, of 1,064,292 shares, the short-interest ratio is presently 1.2 days. Approximately 2.2% of the company’s shares are short sold.

Capital Group New Geography Equity ETF Price Performance

Shares of NYSEARCA:CGNG traded up $0.15 during trading hours on Friday, hitting $36.44. 375,353 shares of the company’s stock traded hands, compared to its average volume of 662,117. Capital Group New Geography Equity ETF has a 1 year low of $27.36 and a 1 year high of $37.60. The business has a fifty day moving average price of $35.05 and a 200-day moving average price of $33.57. The firm has a market capitalization of $2.16 billion, a P/E ratio of 19.57 and a beta of 0.83.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in shares of Capital Group New Geography Equity ETF by 9.3% during the first quarter. NewEdge Advisors LLC now owns 719,193 shares of the company’s stock valued at $22,705,000 after buying an additional 61,277 shares during the period. Security Financial Services INC. boosted its holdings in shares of Capital Group New Geography Equity ETF by 18.1% in the first quarter. Security Financial Services INC. now owns 16,394 shares of the company’s stock valued at $518,000 after purchasing an additional 2,512 shares during the period. J. Derek Lewis & Associates Inc. boosted its holdings in shares of Capital Group New Geography Equity ETF by 21.0% in the first quarter. J. Derek Lewis & Associates Inc. now owns 127,409 shares of the company’s stock valued at $4,047,000 after purchasing an additional 22,128 shares during the period. Western Wealth Management LLC boosted its holdings in shares of Capital Group New Geography Equity ETF by 146.3% in the first quarter. Western Wealth Management LLC now owns 104,598 shares of the company’s stock valued at $3,302,000 after purchasing an additional 62,134 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Capital Group New Geography Equity ETF by 131.4% in the first quarter. Bank of America Corp DE now owns 1,302,791 shares of the company’s stock valued at $41,129,000 after purchasing an additional 739,844 shares during the period.

About Capital Group New Geography Equity ETF

The Capital Group New Geography Equity ETF (CGNG) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking long-term capital appreciation through investment in companies from the emerging markets, may include frontier markets securities. CGNG was launched on Jun 25, 2024 and is issued by Capital Group.