74,374 Capital Group U.S. Multi-Sector Income ETF $CGMS Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. decreased its stake in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 53.2% in the third quarter, HoldingsChannel reports. The firm owned 65,500 shares of the company’s stock after selling 74,374 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $1,718,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CGMS. Envestnet Asset Management Inc. raised its holdings in Capital Group U.S. Multi-Sector Income ETF by 16.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,076,177 shares of the company’s stock worth $248,052,000 after buying an additional 1,259,374 shares during the period. Cetera Investment Advisers lifted its stake in Capital Group U.S. Multi-Sector Income ETF by 17.7% during the first quarter. Cetera Investment Advisers now owns 4,296,149 shares of the company’s stock valued at $116,984,000 after buying an additional 646,551 shares in the last quarter. Capital Advantage Inc. lifted its stake in Capital Group U.S. Multi-Sector Income ETF by 51.7% during the second quarter. Capital Advantage Inc. now owns 3,791,682 shares of the company’s stock valued at $103,627,000 after buying an additional 1,292,902 shares in the last quarter. Royal Bank of Canada lifted its stake in Capital Group U.S. Multi-Sector Income ETF by 19.5% during the first quarter. Royal Bank of Canada now owns 1,786,838 shares of the company’s stock valued at $48,656,000 after buying an additional 291,066 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 135.9% in the first quarter. Valmark Advisers Inc. now owns 1,525,745 shares of the company’s stock worth $41,546,000 after buying an additional 879,055 shares during the period.

Capital Group U.S. Multi-Sector Income ETF Price Performance

Shares of CGMS opened at $26.55 on Thursday. The company has a 50-day moving average of $26.61 and a two-hundred day moving average of $27.23. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.71 and a beta of 0.30. Capital Group U.S. Multi-Sector Income ETF has a one year low of $26.09 and a one year high of $27.86.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 30th were given a $0.1176 dividend. This is a drop from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.1402. The ex-dividend date was Friday, October 30th. This represents a $1.41 annualized dividend and a dividend yield of 5.3%.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.