Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Hits New 52-Week Low – Here’s What Happened

Capital Group Core Plus Income ETF (NYSEARCA:CGCP) shares hit a new 52-week low on Wednesday . The company traded as low as $21.57 and last traded at $21.5550, with a volume of 133101 shares trading hands. The stock had previously closed at $21.70.

Capital Group Core Plus Income ETF Stock Performance

The business’s 50 day moving average price is $21.95 and its 200-day moving average price is $22.22. The firm has a market capitalization of $8.40 billion, a PE ratio of 10.69 and a beta of 0.32.

Capital Group Core Plus Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were given a $0.1074 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a yield of 6.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CGCP. Capital International Investors grew its stake in shares of Capital Group Core Plus Income ETF by 24.7% in the fourth quarter. Capital International Investors now owns 41,266,604 shares of the company’s stock valued at $934,276,000 after buying an additional 8,184,599 shares in the last quarter. LPL Financial LLC lifted its stake in Capital Group Core Plus Income ETF by 25.1% during the 4th quarter. LPL Financial LLC now owns 23,722,685 shares of the company’s stock worth $537,082,000 after acquiring an additional 4,757,976 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Capital Group Core Plus Income ETF by 12.5% during the 1st quarter. Cetera Investment Advisers now owns 7,319,089 shares of the company’s stock valued at $163,508,000 after acquiring an additional 814,939 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Capital Group Core Plus Income ETF by 9.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,749,143 shares of the company’s stock valued at $130,161,000 after acquiring an additional 506,129 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Capital Group Core Plus Income ETF by 11.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,915,821 shares of the company’s stock valued at $109,819,000 after acquiring an additional 520,461 shares in the last quarter.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.