Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 52-Week Low – What’s Next?

Shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) reached a new 52-week low on Monday . The stock traded as low as $26.42 and last traded at $26.5050, with a volume of 2806430 shares trading hands. The stock had previously closed at $26.48.

Capital Group Municipal Income ETF Trading Up 0.0%

The business’s 50-day moving average price is $27.00 and its 200-day moving average price is $27.25.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were given a dividend of $0.0878 per share. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC grew its holdings in shares of Capital Group Municipal Income ETF by 672.6% during the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after buying an additional 908 shares during the last quarter. Core Wealth Advisors LLC acquired a new position in Capital Group Municipal Income ETF in the 4th quarter valued at about $48,000. Capital Asset Advisory Services LLC purchased a new stake in Capital Group Municipal Income ETF during the 1st quarter valued at approximately $211,000. Mayflower Financial Advisors LLC purchased a new stake in Capital Group Municipal Income ETF during the 1st quarter valued at approximately $216,000. Finally, Affiance Financial LLC acquired a new stake in Capital Group Municipal Income ETF during the 2nd quarter worth approximately $219,000.

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.