Drive Wealth Management LLC Takes $4.44 Million Position in Capital Group U.S. Multi-Sector Income ETF $CGMS

Drive Wealth Management LLC acquired a new stake in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 159,829 shares of the company’s stock, valued at approximately $4,435,000. Capital Group U.S. Multi-Sector Income ETF makes up about 0.9% of Drive Wealth Management LLC’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds also recently modified their holdings of the stock. CWM LLC grew its stake in Capital Group U.S. Multi-Sector Income ETF by 441.9% during the second quarter. CWM LLC now owns 929,285 shares of the company’s stock worth $25,667,000 after buying an additional 757,795 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Capital Group U.S. Multi-Sector Income ETF by 16.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,244,651 shares of the company’s stock worth $117,237,000 after acquiring an additional 607,801 shares in the last quarter. Cetera Investment Advisers raised its position in Capital Group U.S. Multi-Sector Income ETF by 19.0% during the second quarter. Cetera Investment Advisers now owns 2,690,563 shares of the company’s stock valued at $74,313,000 after purchasing an additional 429,051 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in Capital Group U.S. Multi-Sector Income ETF during the second quarter worth $11,825,000. Finally, Osaic Holdings Inc. increased its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 30.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,768,762 shares of the company’s stock valued at $48,855,000 after purchasing an additional 410,734 shares during the last quarter.

Capital Group U.S. Multi-Sector Income ETF Stock Up 0.0%

Shares of CGMS stock opened at $27.77 on Friday. The business has a fifty day simple moving average of $27.70 and a 200 day simple moving average of $27.72. The company has a market cap of $4.15 billion, a P/E ratio of 10.71 and a beta of 0.34. Capital Group U.S. Multi-Sector Income ETF has a twelve month low of $26.08 and a twelve month high of $28.08.

Capital Group U.S. Multi-Sector Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, December 26th. Investors of record on Wednesday, December 24th were given a dividend of $0.1662 per share. The ex-dividend date was Wednesday, December 24th. This represents a c) dividend on an annualized basis and a yield of 7.2%. This is a positive change from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.13.

Capital Group U.S. Multi-Sector Income ETF Profile

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.