Capital Group Municipal Income ETF (NYSEARCA:CGMU) Hits New 52-Week High – Still a Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $27.61 and last traded at $27.60, with a volume of 922392 shares trading hands. The stock had previously closed at $27.58.

Capital Group Municipal Income ETF Price Performance

The company’s 50-day moving average is $27.43 and its 200-day moving average is $27.20.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, December 26th. Stockholders of record on Wednesday, December 24th were issued a $0.0872 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, December 24th. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Institutional Trading of Capital Group Municipal Income ETF

Several institutional investors have recently bought and sold shares of CGMU. DAVENPORT & Co LLC grew its position in Capital Group Municipal Income ETF by 3.1% in the second quarter. DAVENPORT & Co LLC now owns 12,873 shares of the company’s stock valued at $344,000 after acquiring an additional 386 shares during the period. Cerity Partners LLC boosted its stake in shares of Capital Group Municipal Income ETF by 0.7% in the 2nd quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock valued at $1,607,000 after purchasing an additional 433 shares in the last quarter. Nwam LLC grew its holdings in shares of Capital Group Municipal Income ETF by 2.5% in the 2nd quarter. Nwam LLC now owns 18,147 shares of the company’s stock worth $484,000 after purchasing an additional 439 shares during the last quarter. CWM LLC increased its position in shares of Capital Group Municipal Income ETF by 0.7% during the 2nd quarter. CWM LLC now owns 61,874 shares of the company’s stock worth $1,651,000 after purchasing an additional 457 shares in the last quarter. Finally, Seamount Financial Group Inc. increased its position in shares of Capital Group Municipal Income ETF by 3.7% during the 3rd quarter. Seamount Financial Group Inc. now owns 13,163 shares of the company’s stock worth $359,000 after purchasing an additional 464 shares in the last quarter.

About Capital Group Municipal Income ETF

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.