Capital Group Dividend Value ETF (NYSEARCA:CGDV) Sets New 12-Month High – Here’s What Happened

Capital Group Dividend Value ETF (NYSEARCA:CGDV) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.00 and last traded at $38.00, with a volume of 138 shares changing hands. The stock had previously closed at $36.77.

Capital Group Dividend Value ETF Stock Performance

The company’s 50 day moving average price is $35.93 and its 200 day moving average price is $34.09. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 22.38 and a beta of 0.92.

Hedge Funds Weigh In On Capital Group Dividend Value ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Capital Group Dividend Value ETF by 15.6% during the second quarter. LPL Financial LLC now owns 12,753,940 shares of the company’s stock worth $420,880,000 after purchasing an additional 1,722,366 shares during the last quarter. Advance Capital Management Inc. grew its holdings in Capital Group Dividend Value ETF by 18.5% during the 3rd quarter. Advance Capital Management Inc. now owns 10,786,079 shares of the company’s stock worth $393,045,000 after acquiring an additional 1,686,328 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Capital Group Dividend Value ETF by 6.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,000,947 shares of the company’s stock valued at $297,031,000 after acquiring an additional 519,112 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Capital Group Dividend Value ETF by 7.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,864,888 shares of the company’s stock worth $292,541,000 after acquiring an additional 630,942 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Capital Group Dividend Value ETF by 15.0% during the second quarter. Envestnet Asset Management Inc. now owns 8,007,181 shares of the company’s stock worth $264,237,000 after purchasing an additional 1,042,548 shares in the last quarter.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks.