Crosspoint Financial LLC Makes New Investment in Capital Group Municipal Income ETF $CGMU

Crosspoint Financial LLC purchased a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the 3rd quarter, HoldingsChannel reports. The firm purchased 23,865 shares of the company’s stock, valued at approximately $619,000. Capital Group Municipal Income ETF comprises approximately 1.2% of Crosspoint Financial LLC’s investment portfolio, making the stock its 20th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in Capital Group Municipal Income ETF by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock worth $376,376,000 after purchasing an additional 859,323 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Capital Group Municipal Income ETF by 17.3% in 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 during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Capital Group Municipal Income ETF in the 3rd quarter worth about $81,186,000. Bank of America Corp DE boosted its stake in shares of Capital Group Municipal Income ETF by 119.9% during the 1st quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock valued at $46,052,000 after purchasing an additional 924,704 shares in the last quarter. Finally, Blue Chip Partners LLC boosted its stake in shares of Capital Group Municipal Income ETF by 1.1% during the 1st quarter. Blue Chip Partners LLC now owns 1,653,001 shares of the company’s stock valued at $44,879,000 after purchasing an additional 17,316 shares in the last quarter.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU opened at $26.97 on Monday. Capital Group Municipal Income ETF has a 1-year low of $25.73 and a 1-year high of $27.93. The firm’s 50-day moving average price is $26.45 and its 200-day moving average price is $27.16.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were issued a $0.0763 dividend. This represents a $0.92 annualized dividend and a yield of 3.4%. This is a drop from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. The ex-dividend date was Friday, October 30th.

About Capital Group Municipal Income ETF

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.