Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sets New 1-Year Low – Time to Sell?

Capital Group Core Plus Income ETF (NYSEARCA:CGCP)’s share price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $21.57 and last traded at $21.5550, with a volume of 133101 shares traded. The stock had previously closed at $21.70.

Capital Group Core Plus Income ETF Price Performance

The business’s 50 day moving average is $21.92 and its 200 day moving average is $22.20. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 10.69 and a beta of 0.32.

Capital Group Core Plus Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were given a dividend of $0.1074 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.29 annualized dividend and a dividend yield of 6.0%. This is an increase from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.0819.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Midwest Heritage Bank FSB boosted its holdings in shares of Capital Group Core Plus Income ETF by 22.4% in the first quarter. Midwest Heritage Bank FSB now owns 1,326,985 shares of the company’s stock valued at $29,645,000 after acquiring an additional 242,411 shares during the period. Core Wealth Partners LLC increased its holdings in shares of Capital Group Core Plus Income ETF by 11.3% in the 4th quarter. Core Wealth Partners LLC now owns 272,517 shares of the company’s stock valued at $6,170,000 after acquiring an additional 27,646 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Capital Group Core Plus Income ETF in the 4th quarter valued at $17,236,000. Swisher Financial Concepts Inc. raised its position in Capital Group Core Plus Income ETF by 11.0% in the 1st quarter. Swisher Financial Concepts Inc. now owns 322,053 shares of the company’s stock valued at $7,195,000 after purchasing an additional 32,017 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Capital Group Core Plus Income ETF in the 1st quarter valued at $602,000.

About Capital Group Core Plus Income ETF

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.