Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Significant Growth in Short Interest

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 2,103,061 shares, a growth of 123.8% from the September 15th total of 939,535 shares. Based on an average daily volume of 3,294,657 shares, the short-interest ratio is currently 0.6 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGMU. CoreCap Advisors LLC grew its stake in shares of 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 purchasing an additional 908 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in Capital Group Municipal Income ETF in the first quarter valued at $211,000. Mayflower Financial Advisors LLC bought a new position in Capital Group Municipal Income ETF during the 1st quarter worth $216,000. Affiance Financial LLC bought a new position in Capital Group Municipal Income ETF during the 2nd quarter worth $219,000. Finally, Waverly Advisors LLC bought a new position in Capital Group Municipal Income ETF during the 1st quarter worth $226,000.

Capital Group Municipal Income ETF Stock Up 0.7%

NYSEARCA CGMU traded up $0.18 on Thursday, hitting $26.34. 835,509 shares of the company’s stock were exchanged, compared to its average volume of 1,495,616. The stock has a 50-day moving average of $26.61 and a 200-day moving average of $27.08. Capital Group Municipal Income ETF has a 52 week low of $25.73 and a 52 week high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 29th were paid a $0.0773 dividend. This represents a $0.93 annualized dividend and a yield of 3.5%. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702. The ex-dividend date of this dividend was Tuesday, September 29th.

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.