Capital Group Dividend Value ETF (NYSEARCA:CGDV) Hits New 52-Week High – Time to Buy?

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s share price reached a new 52-week high on Monday . The stock traded as high as $44.52 and last traded at $44.5150, with a volume of 3749850 shares trading hands. The stock had previously closed at $44.46.

Capital Group Dividend Value ETF Stock Performance

The company has a market cap of $27.40 billion, a P/E ratio of 26.59 and a beta of 0.89. The firm has a 50 day moving average price of $43.45 and a 200-day moving average price of $42.11.

Capital Group Dividend Value ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 26th were issued a dividend of $0.1928 per share. The ex-dividend date of this dividend was Friday, December 26th. This is a boost from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.14. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%.

Institutional Trading of Capital Group Dividend Value ETF

A number of hedge funds and other institutional investors have recently modified their holdings of CGDV. Raymond James Financial Inc. increased its stake in Capital Group Dividend Value ETF by 14.3% in the third 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. grew its position in shares of Capital Group Dividend Value ETF by 4.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 17,388,906 shares of the company’s stock worth $730,856,000 after purchasing an additional 668,214 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in 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 purchasing an additional 1,365,491 shares in the last quarter. Bank of America Corp DE grew its stake 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 worth $666,951,000 after buying an additional 2,688,496 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Capital Group Dividend Value ETF by 17.1% during the second 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 last quarter.

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.