Capital Group Growth ETF (NYSEARCA:CGGR) Sees Large Increase in Short Interest

Capital Group Growth ETF (NYSEARCA:CGGR) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 1,778,257 shares, a growth of 34.5% from the December 31st total of 1,322,596 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,851,252 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 3,851,252 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.4% of the shares of the stock are sold short.

Capital Group Growth ETF Stock Down 1.4%

Shares of Capital Group Growth ETF stock traded down $0.65 during mid-day trading on Friday, reaching $44.46. 6,979,495 shares of the stock traded hands, compared to its average volume of 4,093,055. The stock has a market capitalization of $19.65 billion, a PE ratio of 30.88 and a beta of 1.17. The business has a 50-day moving average of $44.62 and a 200 day moving average of $43.64. Capital Group Growth ETF has a fifty-two week low of $29.23 and a fifty-two week high of $45.83.

Capital Group Growth ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 26th were issued a $0.0424 dividend. The ex-dividend date was Friday, December 26th. This represents a yield of 19.0%.

Hedge Funds Weigh In On Capital Group Growth ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGGR. Raymond James Financial Inc. raised its stake in shares of Capital Group Growth ETF by 31.7% in the 3rd quarter. Raymond James Financial Inc. now owns 11,144,965 shares of the company’s stock valued at $489,487,000 after acquiring an additional 2,680,056 shares during the period. Envestnet Asset Management Inc. raised its position in Capital Group Growth ETF by 29.0% in the second quarter. Envestnet Asset Management Inc. now owns 10,446,012 shares of the company’s stock valued at $424,630,000 after purchasing an additional 2,346,788 shares during the period. Jones Financial Companies Lllp lifted its stake in Capital Group Growth ETF by 30.7% during the third quarter. Jones Financial Companies Lllp now owns 5,999,008 shares of the company’s stock worth $261,802,000 after purchasing an additional 1,407,884 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Capital Group Growth ETF by 14.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,407,693 shares of the company’s stock worth $423,073,000 after purchasing an additional 1,333,201 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Capital Group Growth ETF by 11.5% during the third quarter. Bank of America Corp DE now owns 12,800,968 shares of the company’s stock worth $562,219,000 after buying an additional 1,322,744 shares during the period.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.