Carmel Capital Partners LLC Sells 75,888 Shares of Capital Group U.S. Multi-Sector Income ETF $CGMS

Carmel Capital Partners LLC cut its position in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 20.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 293,376 shares of the company’s stock after selling 75,888 shares during the quarter. Capital Group U.S. Multi-Sector Income ETF makes up approximately 2.7% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 8th largest holding. Carmel Capital Partners LLC’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $7,695,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CGMS. Capital Advantage Inc. boosted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 51.7% in the 2nd quarter. Capital Advantage Inc. now owns 3,791,682 shares of the company’s stock valued at $103,627,000 after buying an additional 1,292,902 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Capital Group U.S. Multi-Sector Income ETF by 16.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,076,177 shares of the company’s stock worth $248,052,000 after buying an additional 1,259,374 shares during the last quarter. Waverly Advisors LLC bought a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 2nd quarter worth approximately $25,993,000. Valmark Advisers Inc. raised its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 135.9% during the 1st quarter. Valmark Advisers Inc. now owns 1,525,745 shares of the company’s stock worth $41,546,000 after acquiring an additional 879,055 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 17.7% during the 1st quarter. Cetera Investment Advisers now owns 4,296,149 shares of the company’s stock worth $116,984,000 after acquiring an additional 646,551 shares in the last quarter.

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

NYSEARCA:CGMS traded down $0.03 during midday trading on Friday, reaching $26.50. 1,397,463 shares of the stock traded hands, compared to its average volume of 1,107,017. The stock has a market capitalization of $5.63 billion, a PE ratio of 10.71 and a beta of 0.30. Capital Group U.S. Multi-Sector Income ETF has a 12-month low of $26.09 and a 12-month high of $27.86. The business has a 50-day moving average of $26.58 and a two-hundred day moving average of $27.22.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were given a dividend of $0.1176 per share. The ex-dividend date of this dividend was Friday, October 30th. This is a drop from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.1402. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.3%.

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

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.