Capital Group Dividend Value ETF (NYSEARCA:CGDV) Reaches New 52-Week High – Here’s Why

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s stock price hit a new 52-week high on Thursday . The company traded as high as $46.32 and last traded at $46.30, with a volume of 1970310 shares traded. The stock had previously closed at $45.95.

Capital Group Dividend Value ETF Trading Up 1.0%

The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 26.59 and a beta of 0.90. The stock’s 50 day moving average is $44.43 and its two-hundred day moving average is $43.95.

Hedge Funds Weigh In On Capital Group Dividend Value ETF

A number of large investors have recently bought and sold shares of CGDV. AQR Capital Management LLC purchased a new position in Capital Group Dividend Value ETF during the 1st quarter worth $236,000. Franklin Resources Inc. purchased a new position in Capital Group Dividend Value ETF during the 2nd quarter worth $226,000. Russell Investments Group Ltd. raised its position in Capital Group Dividend Value ETF by 24.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,638 shares of the company’s stock worth $183,000 after buying an additional 925 shares during the last quarter. Brown Advisory Inc. raised its position in Capital Group Dividend Value ETF by 22.7% during the 2nd quarter. Brown Advisory Inc. now owns 22,270 shares of the company’s stock worth $879,000 after buying an additional 4,118 shares during the last quarter. Finally, Sei Investments Co. raised its position in Capital Group Dividend Value ETF by 21.1% during the 2nd quarter. Sei Investments Co. now owns 1,169,992 shares of the company’s stock worth $46,203,000 after buying an additional 203,772 shares during 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. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.