Capital Group Dividend Value ETF (NYSEARCA:CGDV) Reaches New 12-Month High – Should You Buy?

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s share price reached a new 52-week high on Monday . The company traded as high as $43.94 and last traded at $43.9050, with a volume of 1480943 shares traded. The stock had previously closed at $43.62.

Capital Group Dividend Value ETF Stock Performance

The company has a 50 day moving average of $43.01 and a two-hundred day moving average of $41.57. The stock has a market capitalization of $24.95 billion, a PE ratio of 26.59 and a beta of 0.89.

Capital Group Dividend Value ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.1359 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.2%.

Hedge Funds Weigh In On Capital Group Dividend Value ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. increased its stake in Capital Group Dividend Value ETF by 14.3% during the 3rd quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock valued at $929,942,000 after purchasing an additional 2,772,053 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Capital Group Dividend Value ETF by 4.0% during the third quarter. Envestnet Asset Management Inc. now owns 17,388,906 shares of the company’s stock worth $730,856,000 after buying an additional 668,214 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Capital Group Dividend Value ETF by 8.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 16,693,552 shares of the company’s stock valued at $701,630,000 after buying an additional 1,365,491 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Capital Group Dividend Value ETF by 20.4% during the third quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock valued at $666,951,000 after buying an additional 2,688,496 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Capital Group Dividend Value ETF by 17.1% in the 2nd quarter. Cetera Investment Advisers now owns 11,850,016 shares of the company’s stock valued at $467,957,000 after acquiring an additional 1,730,269 shares during the period.

Capital Group Dividend Value ETF Company Profile

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.