Capital Group Municipal Income ETF (NYSEARCA:CGMU) Hits New 52-Week Low – What’s Next?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares reached a new 52-week low during trading on Thursday . The company traded as low as $26.80 and last traded at $26.82, with a volume of 1824107 shares changing hands. The stock had previously closed at $26.81.

Capital Group Municipal Income ETF Price Performance

The firm has a fifty day simple moving average of $27.18 and a two-hundred day simple moving average of $27.35.

Capital Group Municipal Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were issued a $0.0878 dividend. This is a boost from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a yield of 3.9%.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

A number of large investors have recently modified their holdings of CGMU. CoreCap Advisors LLC raised its stake in Capital Group Municipal Income ETF by 672.6% in the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock worth $29,000 after buying an additional 908 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in shares of Capital Group Municipal Income ETF during the 4th quarter worth approximately $48,000. CIBC Private Wealth Group LLC bought a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter worth approximately $58,000. Advisory Services Network LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter valued at approximately $129,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Capital Group Municipal Income ETF in the 4th quarter valued at approximately $166,000.

Capital Group Municipal Income ETF Company Profile

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.