Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 52-Week Low – What’s Next?

Shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) reached a new 52-week low on Monday. The stock traded as low as $25.95 and last traded at $25.9350, with a volume of 70250 shares traded. The stock had previously closed at $26.06.

Capital Group Municipal Income ETF Price Performance

The stock’s 50-day moving average price is $26.90 and its 200-day moving average price is $27.21.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were given a dividend of $0.0878 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0675.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors grew its position in Capital Group Municipal Income ETF by 1.6% during the fourth quarter. Capital International Investors now owns 46,328,510 shares of the company’s stock worth $1,268,475,000 after buying an additional 743,875 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Capital Group Municipal Income ETF by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock valued at $376,376,000 after acquiring an additional 859,323 shares during the period. LPL Financial LLC grew its holdings in shares of Capital Group Municipal Income ETF by 28.0% during the 4th quarter. LPL Financial LLC now owns 6,756,622 shares of the company’s stock worth $184,996,000 after purchasing an additional 1,479,528 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Capital Group Municipal Income ETF by 17.3% during the 1st 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, MML Investors Services LLC increased its position in shares of Capital Group Municipal Income ETF by 12.6% in the fourth quarter. MML Investors Services LLC now owns 2,377,012 shares of the company’s stock worth $65,083,000 after purchasing an additional 265,406 shares during the period.

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.