Richards Merrill & Peterson Inc. Buys 1,850 Shares of Capital Group Municipal Income ETF $CGMU

Richards Merrill & Peterson Inc. grew its position in Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 30.5% in the second quarter, Holdings Channel reports. The fund owned 7,925 shares of the company’s stock after acquiring an additional 1,850 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Capital Group Municipal Income ETF were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CGMU. Golden State Wealth Management LLC grew its position in Capital Group Municipal Income ETF by 175.0% during the 1st quarter. Golden State Wealth Management LLC now owns 6,781 shares of the company’s stock worth $182,000 after acquiring an additional 4,315 shares during the last quarter. Western Wealth Management LLC boosted its stake in shares of Capital Group Municipal Income ETF by 15.0% during the first quarter. Western Wealth Management LLC now owns 15,904 shares of the company’s stock valued at $427,000 after purchasing an additional 2,069 shares in the last quarter. Hartmann Taylor Wealth Management LLC bought a new stake in shares of Capital Group Municipal Income ETF during the first quarter worth about $5,627,000. Confluence Wealth Services Inc. increased its stake in shares of Capital Group Municipal Income ETF by 12.5% in the first quarter. Confluence Wealth Services Inc. now owns 703,135 shares of the company’s stock valued at $18,514,000 after buying an additional 78,278 shares during the period. Finally, Cornerstone Advisors Asset Management LLC bought a new position in Capital Group Municipal Income ETF in the 1st quarter valued at approximately $3,156,000.

Capital Group Municipal Income ETF Stock Performance

NYSEARCA:CGMU opened at $27.50 on Friday. Capital Group Municipal Income ETF has a one year low of $25.83 and a one year high of $27.51. The firm’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $26.80.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 29th were issued a dividend of $0.0718 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date was Monday, September 29th.

Capital Group Municipal Income ETF Company Profile

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.