Capital Group Municipal Income ETF (NYSEARCA:CGMU) Short Interest Up 165.6% in August

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 653,893 shares, a growth of 165.6% from the August 15th total of 246,185 shares. Based on an average daily volume of 1,260,350 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC boosted its holdings in Capital Group Municipal Income ETF by 672.6% in the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after acquiring an additional 908 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of Capital Group Municipal Income ETF during the fourth quarter valued at about $48,000. CIBC Private Wealth Group LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at approximately $58,000. Advisory Services Network LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at approximately $129,000. Finally, Quadrant Capital Group LLC acquired a new stake in Capital Group Municipal Income ETF in the 4th quarter worth approximately $166,000.

Capital Group Municipal Income ETF Stock Performance

Shares of CGMU stock traded down $0.01 during trading hours on Monday, reaching $26.55. 801,272 shares of the company’s stock were exchanged, compared to its average volume of 1,185,219. Capital Group Municipal Income ETF has a fifty-two week low of $26.48 and a fifty-two week high of $27.93. The stock’s 50 day moving average is $27.10 and its 200-day moving average is $27.30.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 31st were paid a dividend of $0.0878 per share. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a yield of 4.0%.

Capital Group Municipal Income ETF Company 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.