Confluence Wealth Services Inc. Boosts Stake in Capital Group Municipal Income ETF $CGMU

Confluence Wealth Services Inc. increased its position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 5.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 746,403 shares of the company’s stock after buying an additional 37,394 shares during the quarter. Capital Group Municipal Income ETF comprises 1.0% of Confluence Wealth Services Inc.’s investment portfolio, making the stock its 19th biggest holding. Confluence Wealth Services Inc.’s holdings in Capital Group Municipal Income ETF were worth $20,369,000 at the end of the most recent quarter.

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

Capital Group Municipal Income ETF Stock Down 0.0%

Shares of NYSEARCA:CGMU opened at $27.59 on Friday. Capital Group Municipal Income ETF has a one year low of $25.83 and a one year high of $27.61. The company has a 50-day simple moving average of $27.42 and a 200-day simple moving average of $27.16.

Capital Group Municipal Income ETF Increases Dividend

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

Capital Group Municipal Income ETF Profile

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.