Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 12-Month High – Still a Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares hit a new 52-week high on Wednesday . The company traded as high as $27.64 and last traded at $27.6450, with a volume of 372376 shares trading hands. The stock had previously closed at $27.63.

Capital Group Municipal Income ETF Trading Up 0.1%

The stock’s fifty day simple moving average is $27.46 and its 200 day simple moving average is $27.24.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently announced 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. The ex-dividend date was Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC purchased a new position in Capital Group Municipal Income ETF during the third quarter valued at $42,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Capital Group Municipal Income ETF in the third quarter worth about $58,000. Ameriflex Group Inc. purchased a new stake in shares of Capital Group Municipal Income ETF in the third quarter worth about $67,000. Flagship Harbor Advisors LLC bought a new position in Capital Group Municipal Income ETF during the fourth quarter valued at approximately $78,000. Finally, Root Financial Partners LLC purchased a new position in Capital Group Municipal Income ETF during the 3rd quarter valued at approximately $102,000.

Capital Group Municipal Income ETF Company 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.