519,570 Shares in Capital Group Short Duration Municipal Income ETF $CGSM Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC bought a new position in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) during the 3rd quarter, Holdings Channel reports. The firm bought 519,570 shares of the company’s stock, valued at approximately $13,358,000.

Several other institutional investors and hedge funds have also modified their holdings of CGSM. Envestnet Asset Management Inc. grew its position in Capital Group Short Duration Municipal Income ETF by 7.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock worth $83,125,000 after acquiring an additional 221,888 shares during the last quarter. Cetera Investment Advisers increased its holdings in Capital Group Short Duration Municipal Income ETF by 41.1% during the 1st quarter. Cetera Investment Advisers now owns 989,257 shares of the company’s stock valued at $25,998,000 after purchasing an additional 288,245 shares in the last quarter. Royal Bank of Canada increased its holdings in 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 purchasing an additional 150,064 shares in the last quarter. Apella Capital LLC increased its holdings in Capital Group Short Duration Municipal Income ETF by 0.4% during the 2nd quarter. Apella Capital LLC now owns 152,619 shares of the company’s stock valued at $4,028,000 after purchasing an additional 663 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in Capital Group Short Duration Municipal Income ETF by 36.6% in the 2nd quarter. Baird Financial Group Inc. now owns 135,780 shares of the company’s stock valued at $3,583,000 after purchasing an additional 36,369 shares during the last quarter.

Capital Group Short Duration Municipal Income ETF Trading Up 0.0%

Shares of CGSM opened at $26.24 on Thursday. The stock has a fifty day moving average price of $26.01 and a two-hundred day moving average price of $26.29. Capital Group Short Duration Municipal Income ETF has a 52-week low of $25.59 and a 52-week high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were issued a dividend of $0.0635 per share. The ex-dividend date was Friday, October 30th. This is a drop from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640. This represents a $0.76 annualized dividend and a dividend yield of 2.9%.

Capital Group Short Duration Municipal Income ETF Profile

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.