Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 1-Year High – Still a Buy?

Shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) hit a new 52-week high on Tuesday . The stock traded as high as $27.57 and last traded at $27.5550, with a volume of 134201 shares traded. The stock had previously closed at $27.55.

Capital Group Municipal Income ETF Stock Up 0.0%

The stock’s fifty day simple moving average is $27.40 and its 200-day simple moving average is $27.14.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, December 26th. Stockholders of record on Wednesday, December 24th were issued a $0.0872 dividend. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a c) annualized dividend and a dividend yield of 3.8%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC increased its stake in Capital Group Municipal Income ETF by 3.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 12,873 shares of the company’s stock worth $344,000 after buying an additional 386 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Capital Group Municipal Income ETF by 0.7% in the second quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock worth $1,607,000 after acquiring an additional 433 shares during the last quarter. Nwam LLC boosted its stake in shares of Capital Group Municipal Income ETF by 2.5% in the second quarter. Nwam LLC now owns 18,147 shares of the company’s stock worth $484,000 after acquiring an additional 439 shares during the last quarter. CWM LLC increased its position in shares of Capital Group Municipal Income ETF by 0.7% during the second quarter. CWM LLC now owns 61,874 shares of the company’s stock worth $1,651,000 after purchasing an additional 457 shares in the last quarter. Finally, Seamount Financial Group Inc. raised its stake in Capital Group Municipal Income ETF by 3.7% in the 3rd quarter. Seamount Financial Group Inc. now owns 13,163 shares of the company’s stock valued at $359,000 after purchasing an additional 464 shares during the last quarter.

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.