Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Significant Decline in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 65,696 shares, a decline of 39.2% from the September 30th total of 108,018 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 700,162 shares, the short-interest ratio is currently 0.1 days.

Capital Group Short Duration Municipal Income ETF Trading Down 0.2%

Shares of NYSEARCA CGSM opened at $26.16 on Friday. The stock has a 50 day moving average of $26.02 and a two-hundred day moving average of $26.30. Capital Group Short Duration Municipal Income ETF has a twelve month low of $25.59 and a twelve month high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 30th will be issued a $0.0635 dividend. This is a negative change from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640. The ex-dividend date is Friday, October 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.9%.

Institutional Trading of Capital Group Short Duration Municipal Income ETF

Several hedge funds have recently modified their holdings of CGSM. Wealth Science Advisors LLC acquired a new stake in Capital Group Short Duration Municipal Income ETF in the second quarter valued at about $672,000. Royal Bank of Canada lifted its position in shares of Capital Group Short Duration Municipal Income ETF by 85.2% during the 1st quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock valued at $8,570,000 after buying an additional 150,064 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 7.6% in the second quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock worth $83,125,000 after buying an additional 221,888 shares in the last quarter. Private Advisor Group LLC lifted its stake in Capital Group Short Duration Municipal Income ETF by 25.1% during the first quarter. Private Advisor Group LLC now owns 187,205 shares of the company’s stock worth $4,920,000 after purchasing an additional 37,522 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Capital Group Short Duration Municipal Income ETF in the second quarter worth approximately $888,000.

About Capital Group Short Duration Municipal Income ETF

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.