Capital Group U.S. Multi-Sector Income ETF $CGMS Stock: Carmel Capital Partners LLC Decreases Stake

Carmel Capital Partners LLC cut its holdings in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,376 shares of the company’s stock after selling 75,888 shares during the quarter. Capital Group U.S. Multi-Sector Income ETF makes up about 2.7% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 8th largest position. Carmel Capital Partners LLC owned approximately 0.14% of Capital Group U.S. Multi-Sector Income ETF worth $7,695,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Capital Group U.S. Multi-Sector Income ETF by 16.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,076,177 shares of the company’s stock valued at $248,052,000 after purchasing an additional 1,259,374 shares during the period. Cetera Investment Advisers lifted its position in shares of Capital Group U.S. Multi-Sector Income ETF by 17.7% in the 1st quarter. Cetera Investment Advisers now owns 4,296,149 shares of the company’s stock worth $116,984,000 after purchasing an additional 646,551 shares during the period. Capital Advantage Inc. boosted its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 51.7% during the second quarter. Capital Advantage Inc. now owns 3,791,682 shares of the company’s stock valued at $103,627,000 after purchasing an additional 1,292,902 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 19.5% during the first quarter. Royal Bank of Canada now owns 1,786,838 shares of the company’s stock valued at $48,656,000 after purchasing an additional 291,066 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 135.9% during the first quarter. Valmark Advisers Inc. now owns 1,525,745 shares of the company’s stock valued at $41,546,000 after purchasing an additional 879,055 shares in the last quarter.

Capital Group U.S. Multi-Sector Income ETF Stock Down 0.1%

CGMS stock traded down $0.03 during trading on Friday, hitting $26.50. 1,397,463 shares of the company’s stock traded hands, compared to its average volume of 1,107,017. The firm has a market capitalization of $5.63 billion, a P/E ratio of 10.71 and a beta of 0.30. The business has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $27.22. Capital Group U.S. Multi-Sector Income ETF has a 1 year low of $26.09 and a 1 year high of $27.86.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were issued a dividend of $0.1176 per share. This is a decrease from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.1402. This represents a $1.41 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, October 30th.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.