Bank of Marin Invests $607,000 in Capital Group Municipal Income ETF $CGMU

Bank of Marin purchased a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,251 shares of the company’s stock, valued at approximately $607,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in shares of Capital Group Municipal Income ETF by 18.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock worth $272,854,000 after buying an additional 1,573,897 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Capital Group Municipal Income ETF by 18.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 179,485 shares of the company’s stock worth $4,898,000 after purchasing an additional 27,813 shares during the period. Cornerstone Advisors Asset Management LLC boosted its stake in shares of Capital Group Municipal Income ETF by 6.7% during the third quarter. Cornerstone Advisors Asset Management LLC now owns 148,276 shares of the company’s stock valued at $4,046,000 after purchasing an additional 9,291 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in shares of Capital Group Municipal Income ETF by 4.5% during the third quarter. Transcendent Capital Group LLC now owns 19,938 shares of the company’s stock valued at $544,000 after purchasing an additional 858 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Capital Group Municipal Income ETF by 47.9% during the third quarter. Jones Financial Companies Lllp now owns 1,464,113 shares of the company’s stock valued at $39,839,000 after buying an additional 474,350 shares during the period.

Capital Group Municipal Income ETF Price Performance

Shares of NYSEARCA:CGMU opened at $27.63 on Wednesday. The firm has a 50 day moving average of $27.46 and a 200 day moving average of $27.24. Capital Group Municipal Income ETF has a 52 week low of $25.83 and a 52 week high of $27.64.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 30th were paid a dividend of $0.0675 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, January 30th.

Capital Group Municipal Income ETF Profile

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.