Global Retirement Partners LLC Purchases New Stake in Capital Group Municipal Income ETF $CGMU

Global Retirement Partners LLC acquired a new position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the 2nd quarter, HoldingsChannel reports. The fund acquired 69,320 shares of the company’s stock, valued at approximately $1,850,000.

A number of other hedge funds have also made changes to their positions in CGMU. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Capital Group Municipal Income ETF by 40.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,663,217 shares of the company’s stock valued at $98,248,000 after acquiring an additional 1,053,284 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in Capital Group Municipal Income ETF by 111.4% in the second quarter. Vestmark Advisory Solutions Inc. now owns 1,948,750 shares of the company’s stock valued at $52,012,000 after purchasing an additional 1,027,021 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Capital Group Municipal Income ETF by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 8,424,405 shares of the company’s stock worth $224,847,000 after purchasing an additional 1,017,473 shares in the last quarter. LPL Financial LLC boosted its position in shares of Capital Group Municipal Income ETF by 21.0% in the first quarter. LPL Financial LLC now owns 2,984,823 shares of the company’s stock worth $80,053,000 after buying an additional 517,925 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Capital Group Municipal Income ETF by 14.7% in the second quarter. Cetera Investment Advisers now owns 2,954,080 shares of the company’s stock valued at $78,844,000 after buying an additional 378,221 shares in the last quarter.

Capital Group Municipal Income ETF Trading Up 0.2%

Shares of NYSEARCA:CGMU opened at $27.45 on Thursday. The business’s 50-day simple moving average is $27.37 and its 200 day simple moving average is $26.96. Capital Group Municipal Income ETF has a one year low of $25.83 and a one year high of $27.56.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 28th will be paid a $0.0689 dividend. The ex-dividend date is Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 3.0%.

About Capital Group Municipal Income ETF

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.