Commonwealth Equity Services LLC Purchases 3,129,755 Shares of Capital Group Municipal Income ETF $CGMU

Commonwealth Equity Services LLC purchased a new position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,129,755 shares of the company’s stock, valued at approximately $81,186,000. Commonwealth Equity Services LLC owned 1.12% of Capital Group Municipal Income ETF at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CoreCap Advisors LLC lifted its position in Capital Group Municipal Income ETF by 672.6% in the second quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock valued at $29,000 after buying an additional 908 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Capital Group Municipal Income ETF by 52.3% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 2,826 shares of the company’s stock worth $73,000 after acquiring an additional 970 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Capital Group Municipal Income ETF during the 3rd quarter worth approximately $97,000. Signature Equity Partners LLC acquired a new stake in Capital Group Municipal Income ETF in the 3rd quarter valued at approximately $129,000. Finally, MBE Wealth Management LLC acquired a new stake in Capital Group Municipal Income ETF in the 3rd quarter valued at approximately $203,000.

Capital Group Municipal Income ETF Price Performance

CGMU traded up $0.05 during mid-day trading on Friday, hitting $26.97. 2,423,482 shares of the stock were exchanged, compared to its average volume of 1,634,200. The firm’s fifty day moving average is $26.45 and its two-hundred day moving average is $27.16. Capital Group Municipal Income ETF has a 1-year low of $25.73 and a 1-year high of $27.93.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were issued a $0.0763 dividend. The ex-dividend date was Friday, October 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.4%. This is a decrease from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773.

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.