Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Stock Short Interest Climbs 724.4%

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 279,114 shares, an increase of 724.4% from the October 15th total of 33,856 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 1,238,148 shares, the days-to-cover ratio is presently 0.2 days.

Capital Group U.S. Multi-Sector Income ETF Stock Performance

Shares of CGMS opened at $26.32 on Friday. The company has a market capitalization of $5.59 billion, a PE ratio of 10.71 and a beta of 0.30. The company’s 50 day moving average price is $26.53 and its 200 day moving average price is $27.20. Capital Group U.S. Multi-Sector Income ETF has a 52 week low of $26.09 and a 52 week high of $27.86.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were paid a dividend of $0.1176 per share. This is a decrease from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.1402. The ex-dividend date of this dividend was Friday, October 30th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.4%.

Hedge Funds Weigh In On Capital Group U.S. Multi-Sector Income ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. OakTrust Wealth Advisors LLC grew its stake in Capital Group U.S. Multi-Sector Income ETF by 2.3% in the 3rd quarter. OakTrust Wealth Advisors LLC now owns 188,663 shares of the company’s stock valued at $4,949,000 after buying an additional 4,152 shares during the last quarter. Cvfg LLC lifted its position in Capital Group U.S. Multi-Sector Income ETF by 75.1% during the 3rd quarter. Cvfg LLC now owns 42,591 shares of the company’s stock worth $1,117,000 after acquiring an additional 18,268 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in Capital Group U.S. Multi-Sector Income ETF during the 3rd quarter worth $23,533,000. Keystone Financial Services LLC lifted its position in Capital Group U.S. Multi-Sector Income ETF by 14.1% during the 3rd quarter. Keystone Financial Services LLC now owns 146,433 shares of the company’s stock worth $3,841,000 after acquiring an additional 18,041 shares during the last quarter. Finally, Red Oak Financial Group LLC lifted its position in Capital Group U.S. Multi-Sector Income ETF by 5.5% during the 3rd quarter. Red Oak Financial Group LLC now owns 779,356 shares of the company’s stock worth $20,443,000 after acquiring an additional 40,891 shares during the last quarter.

Capital Group U.S. Multi-Sector Income ETF Company Profile

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.