McCarthy Asset Management Inc. Trims Position in Capital Group Growth ETF $CGGR

McCarthy Asset Management Inc. lessened its holdings in shares of Capital Group Growth ETF (NYSEARCA:CGGR) by 6.5% in the second quarter, Holdings Channel.com reports. The fund owned 17,937 shares of the company’s stock after selling 1,239 shares during the period. Capital Group Growth ETF comprises approximately 0.5% of McCarthy Asset Management Inc.’s portfolio, making the stock its 15th largest holding. McCarthy Asset Management Inc.’s holdings in Capital Group Growth ETF were worth $729,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CGGR. LPL Financial LLC lifted its position in shares of Capital Group Growth ETF by 36.1% in the 1st quarter. LPL Financial LLC now owns 22,834,860 shares of the company’s stock worth $782,094,000 after purchasing an additional 6,059,534 shares during the period. Commonwealth Equity Services LLC raised its stake in Capital Group Growth ETF by 13.8% in the first quarter. Commonwealth Equity Services LLC now owns 11,677,554 shares of the company’s stock worth $399,956,000 after buying an additional 1,415,798 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Capital Group Growth ETF by 17.0% in the first quarter. Envestnet Asset Management Inc. now owns 8,099,224 shares of the company’s stock worth $277,398,000 after buying an additional 1,175,119 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Capital Group Growth ETF by 14.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,074,492 shares of the company’s stock valued at $310,801,000 after acquiring an additional 1,166,451 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Capital Group Growth ETF by 49.3% during the 1st quarter. Jones Financial Companies Lllp now owns 3,322,912 shares of the company’s stock valued at $113,975,000 after acquiring an additional 1,097,272 shares in the last quarter.

Capital Group Growth ETF Stock Performance

Shares of NYSEARCA:CGGR opened at $44.93 on Friday. The firm has a market capitalization of $17.89 billion, a P/E ratio of 30.88 and a beta of 1.09. The stock has a 50 day moving average price of $43.50 and a 200-day moving average price of $40.22. Capital Group Growth ETF has a 52-week low of $29.23 and a 52-week high of $45.12.

Capital Group Growth ETF Company Profile

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.