Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Stock Short Interest Declines 83.1%

Capital Group Core Plus Income ETF (NYSEARCA:CGCP) was the target of a large drop in short interest in October. As of October 30th, there was short interest totaling 217,409 shares, a drop of 83.1% from the October 15th total of 1,284,337 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 2,194,062 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Capital Group Core Plus Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of CGCP. Envestnet Asset Management Inc. lifted its position in Capital Group Core Plus Income ETF by 7.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,369,670 shares of the company’s stock worth $275,720,000 after buying an additional 884,794 shares during the last quarter. Cetera Investment Advisers lifted its stake in Capital Group Core Plus Income ETF by 12.5% in the first quarter. Cetera Investment Advisers now owns 7,319,089 shares of the company’s stock worth $163,508,000 after acquiring an additional 814,939 shares during the period. WNY Asset Management LLC bought a new stake in shares of Capital Group Core Plus Income ETF during the 1st quarter valued at about $94,023,000. Royal Bank of Canada increased its stake in shares of Capital Group Core Plus Income ETF by 12.4% in the 1st quarter. Royal Bank of Canada now owns 3,989,237 shares of the company’s stock worth $89,120,000 after acquiring an additional 439,682 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Capital Group Core Plus Income ETF by 4.8% in the third quarter. Harbour Investments Inc. now owns 3,578,528 shares of the company’s stock worth $75,757,000 after acquiring an additional 164,565 shares in the last quarter.

Capital Group Core Plus Income ETF Price Performance

Shares of NYSEARCA CGCP traded down $0.04 during trading hours on Friday, hitting $21.31. 2,657,316 shares of the stock were exchanged, compared to its average volume of 1,776,580. The company’s 50 day moving average is $21.50 and its 200 day moving average is $22.14. The firm has a market capitalization of $8.57 billion, a P/E ratio of 10.69 and a beta of 0.32. Capital Group Core Plus Income ETF has a one year low of $21.08 and a one year high of $22.90.

Capital Group Core Plus Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were paid a dividend of $0.0895 per share. This is a negative change from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.0925. This represents a $1.07 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, October 30th.

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.