Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 1-Year Low – Here’s Why

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $26.76 and last traded at $26.77, with a volume of 1603996 shares. The stock had previously closed at $26.78.

Capital Group Municipal Income ETF Price Performance

The company has a 50-day moving average of $27.15 and a 200-day moving average of $27.33.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were paid a $0.0878 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a yield of 3.9%. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Institutional Trading of Capital Group Municipal Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Atlas Private Wealth Advisors raised its holdings in Capital Group Municipal Income ETF by 1.2% during the fourth quarter. Atlas Private Wealth Advisors now owns 35,016 shares of the company’s stock worth $959,000 after purchasing an additional 402 shares in the last quarter. Cerity Partners LLC lifted its position in Capital Group Municipal Income ETF by 0.7% in the second quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock valued at $1,607,000 after purchasing an additional 433 shares during the period. Florida Financial Advisors LLC boosted its holdings in Capital Group Municipal Income ETF by 4.0% in the 4th quarter. Florida Financial Advisors LLC now owns 12,640 shares of the company’s stock valued at $346,000 after purchasing an additional 485 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Capital Group Municipal Income ETF by 1.9% in the 4th quarter. Meridian Wealth Management LLC now owns 28,173 shares of the company’s stock valued at $771,000 after purchasing an additional 512 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in Capital Group Municipal Income ETF by 1.0% during the 4th quarter. Wedbush Securities Inc. now owns 60,918 shares of the company’s stock worth $1,668,000 after purchasing an additional 610 shares during the period.

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.