Capital Group Municipal Income ETF (NYSEARCA:CGMU) Reaches New 52-Week Low – Should You Sell?

Capital Group Municipal Income ETF (NYSEARCA:CGMU)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $26.76 and last traded at $26.77, with a volume of 1603996 shares traded. The stock had previously closed at $26.78.

Capital Group Municipal Income ETF Trading Down 0.0%

The company’s fifty day simple moving average is $27.15 and its two-hundred day simple moving average is $27.33.

Capital Group Municipal Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were given a $0.0878 dividend. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, July 31st.

Institutional Trading of Capital Group Municipal Income ETF

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its position in shares of Capital Group Municipal Income ETF by 23.6% in the first quarter. Jane Street Group LLC now owns 228,094 shares of the company’s stock valued at $6,117,000 after purchasing an additional 43,538 shares during the period. Cerity Partners LLC grew its position in Capital Group Municipal Income ETF by 0.7% during the second quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock valued at $1,607,000 after acquiring an additional 433 shares during the period. NewEdge Advisors LLC increased its stake in Capital Group Municipal Income ETF by 105.7% during the second quarter. NewEdge Advisors LLC now owns 123,537 shares of the company’s stock worth $3,297,000 after acquiring an additional 63,473 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Capital Group Municipal Income ETF in the 2nd quarter worth about $6,154,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Capital Group Municipal Income ETF by 45.6% in the 2nd quarter. Raymond James Financial Inc. now owns 1,152,361 shares of the company’s stock valued at $30,757,000 after purchasing an additional 360,770 shares in 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.