Capital Group Dividend Value ETF (NYSEARCA:CGDV) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Capital Group Dividend Value ETF (NYSEARCA:CGDV) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $49.41 and traded as low as $48.52. Capital Group Dividend Value ETF shares last traded at $48.81, with a volume of 3,363,044 shares traded.

Capital Group Dividend Value ETF Trading Down 1.5%

The firm has a 50 day moving average of $49.41 and a two-hundred day moving average of $47.44. The stock has a market capitalization of $38.82 billion, a PE ratio of 26.59 and a beta of 0.88.

Capital Group Dividend Value ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 30th were issued a $0.1522 dividend. This represents a $0.61 annualized dividend and a yield of 1.2%. This is a positive change from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.1471. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Provenance Wealth Advisors LLC acquired a new position in shares of Capital Group Dividend Value ETF in the 3rd quarter valued at about $33,000. Torren Management LLC purchased a new stake in shares of Capital Group Dividend Value ETF during the 1st quarter worth about $58,000. CoreCap Advisors LLC increased its position in Capital Group Dividend Value ETF by 19.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,338 shares of the company’s stock worth $66,000 after purchasing an additional 218 shares in the last quarter. Compass Financial Management LLC acquired a new stake in Capital Group Dividend Value ETF during the 3rd quarter worth approximately $73,000. Finally, Beacon Financial Strategies CORP purchased a new position in Capital Group Dividend Value ETF in the second quarter valued at approximately $79,000.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.