Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Stock Short Interest Declines 93.7%

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 42,259 shares, a decrease of 93.7% from the October 15th total of 667,441 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 690,266 shares, the days-to-cover ratio is currently 0.1 days.

Capital Group New Geography Equity ETF Price Performance

CGNG traded up $0.60 during trading on Wednesday, hitting $33.92. The stock had a trading volume of 415,362 shares, compared to its average volume of 633,604. The company has a 50 day moving average price of $35.61 and a 200-day moving average price of $35.14. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 19.57 and a beta of 0.90. Capital Group New Geography Equity ETF has a one year low of $30.13 and a one year high of $38.25.

Hedge Funds Weigh In On Capital Group New Geography Equity ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its holdings in shares of Capital Group New Geography Equity ETF by 13.3% during the 1st quarter. Cetera Investment Advisers now owns 2,400,095 shares of the company’s stock worth $75,771,000 after purchasing an additional 282,054 shares in the last quarter. Bank of America Corp DE raised its stake in 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 in the last quarter. Commonwealth Equity Services LLC raised its stake in Capital Group New Geography Equity ETF by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 1,228,149 shares of the company’s stock valued at $44,766,000 after purchasing an additional 151,240 shares in the last quarter. Confluence Wealth Services Inc. lifted its position in Capital Group New Geography Equity ETF by 50.9% during the third quarter. Confluence Wealth Services Inc. now owns 1,001,776 shares of the company’s stock worth $36,515,000 after purchasing an additional 337,991 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Capital Group New Geography Equity ETF by 10.6% during the second quarter. NewEdge Advisors LLC now owns 795,666 shares of the company’s stock worth $29,806,000 after purchasing an additional 76,473 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.