Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Hits New 52-Week High – Still a Buy?

Shares of Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) reached a new 52-week high on Tuesday . The company traded as high as $36.60 and last traded at $36.47, with a volume of 991657 shares trading hands. The stock had previously closed at $36.52.

Capital Group Global Growth Equity ETF Stock Performance

The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 22.37 and a beta of 0.96. The company has a 50-day simple moving average of $35.01 and a two-hundred day simple moving average of $34.04.

Capital Group Global Growth Equity ETF Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 26th were given a dividend of $0.3978 per share. This represents a yield of 227.0%. The ex-dividend date of this dividend was Friday, December 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGGO. Capital Group Private Client Services Inc. increased its stake in shares of Capital Group Global Growth Equity ETF by 11.3% during the 3rd quarter. Capital Group Private Client Services Inc. now owns 20,278,872 shares of the company’s stock worth $692,929,000 after purchasing an additional 2,058,313 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Capital Group Global Growth Equity ETF by 0.6% during the second quarter. Raymond James Financial Inc. now owns 12,059,891 shares of the company’s stock worth $385,555,000 after purchasing an additional 71,961 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Capital Group Global Growth Equity ETF by 2.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 11,018,745 shares of the company’s stock worth $376,511,000 after buying an additional 257,982 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Capital Group Global Growth Equity ETF by 29.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,209,394 shares of the company’s stock worth $314,685,000 after buying an additional 2,068,733 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Capital Group Global Growth Equity ETF by 81.9% in the second quarter. Cetera Investment Advisers now owns 5,855,934 shares of the company’s stock valued at $187,214,000 after buying an additional 2,636,977 shares during the period.

Capital Group Global Growth Equity ETF Company Profile

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.