Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sees Significant Increase in Short Interest

Capital Group Core Plus Income ETF (NYSEARCA:CGCP) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 4,098,119 shares, a growth of 1,450.9% from the May 31st total of 264,241 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 1,598,950 shares, the short-interest ratio is currently 2.6 days.

Capital Group Core Plus Income ETF Stock Performance

Shares of CGCP stock traded up $0.01 during trading on Thursday, hitting $22.41. 1,235,871 shares of the company were exchanged, compared to its average volume of 1,632,131. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 10.69 and a beta of 0.32. The business’s 50-day simple moving average is $22.36 and its 200 day simple moving average is $22.54. Capital Group Core Plus Income ETF has a twelve month low of $22.02 and a twelve month high of $23.00.

Institutional Investors Weigh In On Capital Group Core Plus Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGCP. Fifth Third Bancorp purchased a new position in shares of Capital Group Core Plus Income ETF during the 3rd quarter valued at $32,000. Central Pacific Bank Trust Division purchased a new stake in shares of Capital Group Core Plus Income ETF during the fourth quarter worth $35,000. US Bancorp DE acquired a new stake in Capital Group Core Plus Income ETF during the third quarter valued at $41,000. Bessemer Group Inc. purchased a new position in Capital Group Core Plus Income ETF in the first quarter valued at about $45,000. Finally, Clearstead Advisors LLC purchased a new position in Capital Group Core Plus Income ETF in the fourth quarter valued at about $58,000.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.