Capital Group Dividend Value ETF (NYSEARCA:CGDV) Hits New 52-Week High – Here’s Why

Capital Group Dividend Value ETF (NYSEARCA:CGDV) shares reached a new 52-week high during trading on Thursday . The company traded as high as $43.86 and last traded at $43.7940, with a volume of 1246457 shares changing hands. The stock had previously closed at $43.78.

Capital Group Dividend Value ETF Trading Up 0.3%

The business has a fifty day moving average price of $42.75 and a 200 day moving average price of $41.14. The firm has a market cap of $24.77 billion, a PE ratio of 26.59 and a beta of 0.89.

Capital Group Dividend Value ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.1359 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.54 annualized dividend and a dividend yield of 1.2%. This is a boost from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.13.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. lifted its position in Capital Group Dividend Value ETF by 14.3% in the third quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock valued at $929,942,000 after acquiring an additional 2,772,053 shares during the last quarter. Bank of America Corp DE increased its position in shares of Capital Group Dividend Value ETF by 20.4% during the third quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock worth $666,951,000 after purchasing an additional 2,688,496 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Capital Group Dividend Value ETF by 19.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 13,831,238 shares of the company’s stock valued at $492,945,000 after purchasing an additional 2,220,112 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Capital Group Dividend Value ETF by 39.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,854,486 shares of the company’s stock valued at $328,634,000 after purchasing an additional 2,208,093 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Capital Group Dividend Value ETF by 378.6% in the 1st quarter. HighTower Advisors LLC now owns 2,493,381 shares of the company’s stock valued at $88,864,000 after purchasing an additional 1,972,404 shares during the period.

Capital Group Dividend Value ETF Company Profile

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks.