Mainstay Capital Management LLC ADV Invests $70.99 Million in Capital Group Dividend Value ETF $CGDV

Mainstay Capital Management LLC ADV purchased a new stake in Capital Group Dividend Value ETF (NYSEARCA:CGDV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,688,962 shares of the company’s stock, valued at approximately $70,987,000. Capital Group Dividend Value ETF comprises 7.1% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 5th largest holding. Mainstay Capital Management LLC ADV owned 0.30% of Capital Group Dividend Value ETF at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGDV. Triumph Capital Management bought a new stake in Capital Group Dividend Value ETF during the 3rd quarter worth about $32,000. Banco de Sabadell S.A acquired a new position in Capital Group Dividend Value ETF during the 2nd quarter valued at about $47,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Capital Group Dividend Value ETF by 38,200.0% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,149 shares of the company’s stock valued at $48,000 after purchasing an additional 1,146 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Capital Group Dividend Value ETF during the 3rd quarter worth approximately $49,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of Capital Group Dividend Value ETF during the 3rd quarter worth approximately $52,000.

Capital Group Dividend Value ETF Price Performance

CGDV opened at $43.14 on Thursday. The firm has a 50 day simple moving average of $44.81 and a 200 day simple moving average of $43.47. Capital Group Dividend Value ETF has a fifty-two week low of $30.94 and a fifty-two week high of $46.01. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 26.59 and a beta of 0.89.

Capital Group Dividend Value ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 26th were issued a dividend of $0.1928 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.77 dividend on an annualized basis and a yield of 1.8%. This is a boost from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.14.

Capital Group Dividend Value ETF Profile

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.