Capital Group Municipal Income ETF $CGMU Stake Boosted by Burton Enright Welch

Burton Enright Welch raised its holdings in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 116.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 125,468 shares of the company’s stock after acquiring an additional 67,502 shares during the period. Burton Enright Welch’s holdings in Capital Group Municipal Income ETF were worth $3,255,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CGMU. Commonwealth Equity Services LLC purchased a new stake in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at about $81,186,000. Bank of America Corp DE grew its holdings in shares of Capital Group Municipal Income ETF by 119.9% during the first quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock worth $46,052,000 after purchasing an additional 924,704 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Capital Group Municipal Income ETF by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock worth $376,376,000 after purchasing an additional 859,323 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Capital Group Municipal Income ETF by 17.3% during the first quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock worth $132,429,000 after purchasing an additional 720,377 shares in the last quarter. Finally, Legacy CG LLC bought a new position in shares of Capital Group Municipal Income ETF in the third quarter worth approximately $15,426,000.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU opened at $26.97 on Monday. The firm’s 50 day simple moving average is $26.45 and its 200 day simple moving average is $27.16. Capital Group Municipal Income ETF has a 1-year low of $25.73 and a 1-year high of $27.93.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were given a dividend of $0.0763 per share. This is a decrease from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. The ex-dividend date was Friday, October 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.4%.

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.