Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Stock Breaks Below 50-Day Moving Average – What’s Next?

Capital Group Core Plus Income ETF (NYSEARCA:CGCP)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $21.51 and traded as low as $21.45. Capital Group Core Plus Income ETF shares last traded at $21.50, with a volume of 2,475,662 shares.

Capital Group Core Plus Income ETF Stock Down 0.6%

The stock’s 50 day moving average is $21.50 and its 200-day moving average is $22.14. The company has a market cap of $8.55 billion, a PE ratio of 10.69 and a beta of 0.32.

Capital Group Core Plus Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were paid a $0.0895 dividend. This is a decrease from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.0925. This represents a $1.07 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, October 30th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. WNY Asset Management LLC bought a new stake in shares of Capital Group Core Plus Income ETF during the first quarter valued at approximately $94,023,000. Benjamin Edwards Inc. acquired a new stake in Capital Group Core Plus Income ETF in the third quarter valued at approximately $74,302,000. Commonwealth Equity Services LLC purchased a new position in Capital Group Core Plus Income ETF in the third quarter worth $61,921,000. Valmark Advisers Inc. purchased a new position in Capital Group Core Plus Income ETF in the third quarter worth $51,409,000. Finally, Bernardo Wealth Planning LLC grew its holdings in Capital Group Core Plus Income ETF by 104.1% in the third quarter. Bernardo Wealth Planning LLC now owns 2,531,520 shares of the company’s stock worth $53,592,000 after purchasing an additional 1,291,232 shares during the last quarter.

About Capital Group Core Plus Income ETF

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.