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

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares saw unusually-high trading volume on Monday . Approximately 789,280 shares were traded during mid-day trading, an increase of 64% from the previous session’s volume of 480,590 shares.The stock last traded at $26.97 and had previously closed at $26.98.

Capital Group Municipal Income ETF Price Performance

The firm has a 50 day simple moving average of $27.17 and a two-hundred day simple moving average of $27.20.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 29th were issued a dividend of $0.0674 per share. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Capital Group Municipal Income ETF’s previous dividend of $0.07.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its position in Capital Group Municipal Income ETF by 23.6% during the second quarter. Raymond James & Associates now owns 123,576 shares of the company’s stock worth $3,318,000 after buying an additional 23,569 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Capital Group Municipal Income ETF by 3.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 359,863 shares of the company’s stock valued at $9,662,000 after purchasing an additional 12,821 shares during the period. Harbour Investments Inc. grew its holdings in Capital Group Municipal Income ETF by 27.3% in the second quarter. Harbour Investments Inc. now owns 25,685 shares of the company’s stock valued at $690,000 after purchasing an additional 5,509 shares during the period. New England Capital Financial Advisors LLC increased its position in Capital Group Municipal Income ETF by 6.7% during the second quarter. New England Capital Financial Advisors LLC now owns 118,186 shares of the company’s stock worth $3,173,000 after purchasing an additional 7,390 shares during the last quarter. Finally, Skyline Advisors Inc. raised its stake in Capital Group Municipal Income ETF by 205.6% during the second quarter. Skyline Advisors Inc. now owns 27,504 shares of the company’s stock worth $738,000 after purchasing an additional 18,504 shares during the period.

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.