Capital Group Growth ETF (NYSEARCA:CGGR) Reaches New 1-Year High – Time to Buy?

Capital Group Growth ETF (NYSEARCA:CGGR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.50 and last traded at $41.46, with a volume of 2559186 shares changing hands. The stock had previously closed at $41.33.

Capital Group Growth ETF Price Performance

The firm’s 50-day moving average price is $39.27 and its 200-day moving average price is $37.28. The stock has a market cap of $14.39 billion, a P/E ratio of 30.88 and a beta of 1.09.

Hedge Funds Weigh In On Capital Group Growth ETF

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC bought a new stake in Capital Group Growth ETF in the fourth quarter worth $25,000. Golden State Wealth Management LLC purchased a new position in shares of Capital Group Growth ETF in the 1st quarter worth approximately $30,000. Capital A Wealth Management LLC purchased a new stake in shares of Capital Group Growth ETF in the fourth quarter valued at $34,000. Rossby Financial LCC bought a new position in shares of Capital Group Growth ETF during the first quarter valued at approximately $31,000. Finally, Trust Co. of Vermont bought a new stake in shares of Capital Group Growth ETF during the 2nd quarter worth approximately $51,000.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.