Armstrong Fleming & Moore Inc Acquires New Stake in Capital Group Municipal Income ETF $CGMU

Armstrong Fleming & Moore Inc acquired a new stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 48,249 shares of the company’s stock, valued at approximately $1,288,000. Capital Group Municipal Income ETF accounts for 0.7% of Armstrong Fleming & Moore Inc’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also made changes to their positions in CGMU. Northwestern Mutual Wealth Management Co. increased its stake in shares of Capital Group Municipal Income ETF by 40.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,663,217 shares of the company’s stock valued at $98,248,000 after acquiring an additional 1,053,284 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Capital Group Municipal Income ETF by 8.6% during the first quarter. Envestnet Asset Management Inc. now owns 7,406,932 shares of the company’s stock worth $198,654,000 after buying an additional 586,717 shares in the last quarter. LPL Financial LLC boosted its holdings in Capital Group Municipal Income ETF by 21.0% during the first quarter. LPL Financial LLC now owns 2,984,823 shares of the company’s stock worth $80,053,000 after buying an additional 517,925 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Capital Group Municipal Income ETF by 89.7% during the first quarter. Raymond James Financial Inc. now owns 791,591 shares of the company’s stock worth $21,230,000 after buying an additional 374,330 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Capital Group Municipal Income ETF by 11.2% during the first quarter. Cetera Investment Advisers now owns 2,575,859 shares of the company’s stock worth $69,085,000 after buying an additional 259,458 shares in the last quarter.

Capital Group Municipal Income ETF Stock Performance

Shares of NYSEARCA:CGMU opened at $27.27 on Thursday. Capital Group Municipal Income ETF has a 1-year low of $25.83 and a 1-year high of $27.46. The company has a 50 day moving average price of $27.01 and a 200 day moving average price of $26.74.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 29th were paid a $0.0718 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a c) dividend on an annualized basis and a yield of 3.2%. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Capital Group Municipal Income ETF 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.