Capital Group Municipal Income ETF (NYSEARCA:CGMU) Stock Short Interest Rises 123.8%

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 2,103,061 shares, an increase of 123.8% from the September 15th total of 939,535 shares. Based on an average trading volume of 3,294,657 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.8% of the shares of the stock are short sold.

Institutional Trading of Capital Group Municipal Income ETF

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in Capital Group Municipal Income ETF by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock worth $376,376,000 after purchasing an additional 859,323 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Capital Group Municipal Income ETF by 17.3% during the 1st quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock worth $132,429,000 after buying an additional 720,377 shares in the last quarter. MML Investors Services LLC lifted its holdings in Capital Group Municipal Income ETF by 12.6% during the 4th quarter. MML Investors Services LLC now owns 2,377,012 shares of the company’s stock worth $65,083,000 after buying an additional 265,406 shares in the last quarter. Bank of America Corp DE lifted its holdings in Capital Group Municipal Income ETF by 119.9% during the 1st quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock worth $46,052,000 after buying an additional 924,704 shares in the last quarter. Finally, Blue Chip Partners LLC lifted its holdings in Capital Group Municipal Income ETF by 1.1% during the 1st quarter. Blue Chip Partners LLC now owns 1,653,001 shares of the company’s stock worth $44,879,000 after buying an additional 17,316 shares in the last quarter.

Capital Group Municipal Income ETF Stock Performance

CGMU opened at $26.08 on Tuesday. Capital Group Municipal Income ETF has a 1-year low of $25.73 and a 1-year high of $27.93. The firm has a 50-day moving average price of $26.65 and a two-hundred day moving average price of $27.09.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.0773 per share. The ex-dividend date was Tuesday, September 29th. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702. This represents a $0.93 dividend on an annualized basis and a dividend yield of 3.6%.

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.