Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – What’s Next?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw unusually-strong trading volume on Friday . Approximately 764,791 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 510,115 shares.The stock last traded at $27.15 and had previously closed at $27.14.

Capital Group Municipal Income ETF Stock Up 0.2 %

The business has a fifty day moving average of $27.00 and a two-hundred day moving average of $27.19.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 31st were issued a $0.0626 dividend. The ex-dividend date was Friday, January 31st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CGMU. Novem Group purchased a new position in shares of Capital Group Municipal Income ETF during the fourth quarter worth $1,478,000. Royal Bank of Canada boosted its position in shares of Capital Group Municipal Income ETF by 12.9% during the fourth quarter. Royal Bank of Canada now owns 560,411 shares of the company’s stock worth $15,087,000 after buying an additional 64,020 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Capital Group Municipal Income ETF by 12.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,282,547 shares of the company’s stock worth $34,526,000 after buying an additional 143,537 shares during the period. Cetera Investment Advisers boosted its holdings in Capital Group Municipal Income ETF by 6.8% in the fourth quarter. Cetera Investment Advisers now owns 2,316,401 shares of the company’s stock valued at $62,358,000 after purchasing an additional 147,350 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Capital Group Municipal Income ETF in the fourth quarter valued at $569,000.

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.