Royal Bank of Canada Raises Stock Position in Capital Group Short Duration Municipal Income ETF $CGSM

Royal Bank of Canada grew its stake in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) by 85.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,116 shares of the company’s stock after purchasing an additional 150,064 shares during the quarter. Royal Bank of Canada owned about 0.75% of Capital Group Short Duration Municipal Income ETF worth $8,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gateway Wealth Partners LLC boosted its stake in shares of Capital Group Short Duration Municipal Income ETF by 151.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 64,441 shares of the company’s stock valued at $1,694,000 after purchasing an additional 38,834 shares in the last quarter. Sei Investments Co. raised its stake in Capital Group Short Duration Municipal Income ETF by 21.7% in the first quarter. Sei Investments Co. now owns 90,268 shares of the company’s stock worth $2,372,000 after buying an additional 16,110 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Capital Group Short Duration Municipal Income ETF by 41.1% in the first quarter. Cetera Investment Advisers now owns 989,257 shares of the company’s stock worth $25,998,000 after buying an additional 288,245 shares during the period. Birchwood Financial Partners Inc. purchased a new stake in Capital Group Short Duration Municipal Income ETF in the first quarter worth about $322,000. Finally, Fifth Third Bancorp bought a new stake in Capital Group Short Duration Municipal Income ETF during the 1st quarter valued at approximately $261,000.

Capital Group Short Duration Municipal Income ETF Stock Performance

CGSM stock opened at $26.31 on Monday. Capital Group Short Duration Municipal Income ETF has a fifty-two week low of $26.18 and a fifty-two week high of $26.68. The business’s 50 day moving average price is $26.34 and its two-hundred day moving average price is $26.40.

Capital Group Short Duration Municipal Income ETF Company Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.