Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Short Interest Up 892.0% in July

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 675,683 shares, an increase of 892.0% from the July 15th total of 68,113 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,185,671 shares, the short-interest ratio is currently 0.6 days.

Capital Group U.S. Multi-Sector Income ETF Stock Performance

Shares of NYSEARCA:CGMS traded up $0.10 on Thursday, hitting $27.24. The company’s stock had a trading volume of 481,927 shares, compared to its average volume of 1,012,125. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 10.71 and a beta of 0.29. Capital Group U.S. Multi-Sector Income ETF has a 12 month low of $26.95 and a 12 month high of $28.08. The stock’s 50-day moving average is $27.30 and its two-hundred day moving average is $27.45.

Institutional Trading of Capital Group U.S. Multi-Sector Income ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners bought a new stake in Capital Group U.S. Multi-Sector Income ETF during the fourth quarter worth approximately $27,000. Bogart Wealth LLC acquired a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 4th quarter valued at $27,000. Flagship Harbor Advisors LLC bought a new stake in shares of Capital Group U.S. Multi-Sector Income ETF in the 4th quarter worth $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Capital Group U.S. Multi-Sector Income ETF in the 4th quarter worth $53,000. Finally, CX Institutional acquired a new stake in shares of Capital Group U.S. Multi-Sector Income ETF in the second quarter valued at $68,000.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.