Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sets New 12-Month Low – Should You Sell?

Capital Group Core Plus Income ETF (NYSEARCA:CGCP)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $21.82 and last traded at $21.8250, with a volume of 812054 shares trading hands. The stock had previously closed at $21.88.

Capital Group Core Plus Income ETF Stock Down 0.8%

The firm has a market capitalization of $8.30 billion, a PE ratio of 10.69 and a beta of 0.32. The company has a 50-day moving average of $22.04 and a 200 day moving average of $22.29.

Capital Group Core Plus Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were given a dividend of $0.1074 per share. This is a boost from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.08. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CGCP. Integrated Wealth Concepts LLC lifted its position in Capital Group Core Plus Income ETF by 63.4% during the first quarter. Integrated Wealth Concepts LLC now owns 14,920 shares of the company’s stock valued at $335,000 after purchasing an additional 5,790 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Capital Group Core Plus Income ETF during the 1st quarter valued at $2,904,000. Focus Partners Wealth purchased a new stake in shares of Capital Group Core Plus Income ETF during the 1st quarter valued at $313,000. JPMorgan Chase & Co. lifted its holdings in shares of Capital Group Core Plus Income ETF by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 57,428 shares of the company’s stock worth $1,292,000 after acquiring an additional 11,516 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Capital Group Core Plus Income ETF by 79.1% during the 2nd quarter. NewEdge Advisors LLC now owns 177,883 shares of the company’s stock worth $4,002,000 after acquiring an additional 78,553 shares during the last quarter.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.