Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Large Decrease in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 65,696 shares, a drop of 39.2% from the September 30th total of 108,018 shares. Based on an average trading volume of 700,162 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Capital Group Short Duration Municipal Income ETF Price Performance

NYSEARCA CGSM traded down $0.01 on Monday, hitting $26.15. The company had a trading volume of 556,663 shares, compared to its average volume of 369,375. The company’s fifty day moving average price is $26.02 and its 200-day moving average price is $26.30. Capital Group Short Duration Municipal Income ETF has a 12-month low of $25.59 and a 12-month high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 30th will be issued a $0.0635 dividend. This represents a $0.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, October 30th. This is a negative change from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640.

Institutional Trading of Capital Group Short Duration Municipal Income ETF

A number of institutional investors have recently made changes to their positions in the company. Wealth Science Advisors LLC purchased a new stake in Capital Group Short Duration Municipal Income ETF in the 2nd quarter valued at $672,000. Royal Bank of Canada increased its stake in shares of Capital Group Short Duration Municipal Income ETF by 85.2% in the 1st quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock worth $8,570,000 after acquiring an additional 150,064 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Capital Group Short Duration Municipal Income ETF by 7.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock worth $83,125,000 after acquiring an additional 221,888 shares during the period. Private Advisor Group LLC raised its holdings in shares of Capital Group Short Duration Municipal Income ETF by 25.1% during the 1st quarter. Private Advisor Group LLC now owns 187,205 shares of the company’s stock worth $4,920,000 after acquiring an additional 37,522 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Capital Group Short Duration Municipal Income ETF during the 2nd quarter worth $888,000.

Capital Group Short Duration Municipal Income ETF Company Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.