Penney Financial LLC Makes New Investment in Capital Group Municipal Income ETF $CGMU

Penney Financial LLC purchased a new stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,766 shares of the company’s stock, valued at approximately $1,604,000. Capital Group Municipal Income ETF makes up approximately 0.7% of Penney Financial LLC’s holdings, making the stock its 21st largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Bancorp Inc. raised its position in shares of Capital Group Municipal Income ETF by 49.1% during the second quarter. Pinnacle Bancorp Inc. now owns 1,962 shares of the company’s stock worth $52,000 after purchasing an additional 646 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Capital Group Municipal Income ETF by 81.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,395 shares of the company’s stock worth $117,000 after purchasing an additional 1,977 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in Capital Group Municipal Income ETF during the 3rd quarter worth about $125,000. Financial Perspectives Inc raised its holdings in Capital Group Municipal Income ETF by 301.6% during the 2nd quarter. Financial Perspectives Inc now owns 5,008 shares of the company’s stock worth $134,000 after buying an additional 3,761 shares during the period. Finally, United Advisor Group LLC purchased a new stake in Capital Group Municipal Income ETF during the second quarter valued at about $201,000.

Capital Group Municipal Income ETF Price Performance

Capital Group Municipal Income ETF stock opened at $27.38 on Friday. Capital Group Municipal Income ETF has a fifty-two week low of $25.83 and a fifty-two week high of $27.56. The firm’s 50 day simple moving average is $27.39 and its 200-day simple moving average is $27.10.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, December 26th. Stockholders of record on Wednesday, December 24th were issued a $0.0872 dividend. The ex-dividend date was Wednesday, December 24th. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%.

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.