Capital Group Core Balanced ETF (NYSEARCA:CGBL) Stock Short Interest Falls 71.3%

Capital Group Core Balanced ETF (NYSEARCA:CGBL) was the target of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 227,545 shares, a drop of 71.3% from the October 15th total of 791,611 shares. Based on an average daily volume of 1,346,731 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Capital Group Core Balanced ETF Price Performance

CGBL stock traded down $0.09 during mid-day trading on Friday, reaching $36.95. 1,076,376 shares of the company traded hands, compared to its average volume of 1,491,384. The company has a fifty day moving average price of $37.16 and a 200-day moving average price of $36.92. Capital Group Core Balanced ETF has a 52-week low of $33.67 and a 52-week high of $38.68. The company has a market capitalization of $8.00 billion, a P/E ratio of 25.37 and a beta of 0.70.

Capital Group Core Balanced ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 30th were given a $0.2056 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Capital Group Core Balanced ETF’s previous quarterly dividend of $0.1634. The ex-dividend date was Wednesday, September 30th.

Hedge Funds Weigh In On Capital Group Core Balanced ETF

Hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new stake in Capital Group Core Balanced ETF during the 2nd quarter worth approximately $33,000. North Star Investment Management Corp. purchased a new stake in Capital Group Core Balanced ETF in the 3rd quarter worth approximately $74,000. CX Institutional purchased a new stake in Capital Group Core Balanced ETF in the 3rd quarter worth approximately $78,000. CoreCap Advisors LLC boosted its holdings in Capital Group Core Balanced ETF by 130.9% in the 3rd quarter. CoreCap Advisors LLC now owns 2,122 shares of the company’s stock valued at $78,000 after purchasing an additional 1,203 shares during the period. Finally, Root Financial Partners LLC bought a new position in Capital Group Core Balanced ETF in the 3rd quarter valued at $156,000.

About Capital Group Core Balanced ETF

The Capital Group Core Balanced ETF (CGBL) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that offers a balanced approach to total return and capital preservation. The fund employs an active asset allocation strategy to invest in equities, debts, money market instruments, and cash. CGBL was launched on Sep 26, 2023 and is issued by Capital Group.