Short Interest in Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Rises By 142.6%

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 829,307 shares, an increase of 142.6% from the August 15th total of 341,786 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 558,720 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On Capital Group New Geography Equity ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. increased its holdings in Capital Group New Geography Equity ETF by 30.7% in the 2nd quarter. Baird Financial Group Inc. now owns 508,549 shares of the company’s stock valued at $19,050,000 after buying an additional 119,487 shares during the period. Founders Financial Securities LLC lifted its holdings in shares of Capital Group New Geography Equity ETF by 90.5% during the 1st quarter. Founders Financial Securities LLC now owns 78,881 shares of the company’s stock worth $2,648,000 after acquiring an additional 37,478 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Capital Group New Geography Equity ETF during the 2nd quarter worth approximately $827,000. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Capital Group New Geography Equity ETF during the 4th quarter worth approximately $3,362,000. Finally, Harbour Investments Inc. boosted its position in shares of Capital Group New Geography Equity ETF by 35.2% during the 4th quarter. Harbour Investments Inc. now owns 70,637 shares of the company’s stock worth $2,255,000 after acquiring an additional 18,382 shares in the last quarter.

Capital Group New Geography Equity ETF Stock Performance

NYSEARCA:CGNG traded down $0.27 during mid-day trading on Tuesday, hitting $35.95. 291,436 shares of the stock were exchanged, compared to its average volume of 635,515. The firm’s 50-day simple moving average is $36.34 and its 200 day simple moving average is $35.26. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 19.57 and a beta of 0.84. Capital Group New Geography Equity ETF has a fifty-two week low of $30.13 and a fifty-two week high of $38.25.

About Capital Group New Geography Equity ETF

The Capital Group New Geography Equity ETF (CGNG) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking long-term capital appreciation through investment in companies from the emerging markets, may include frontier markets securities. CGNG was launched on Jun 25, 2024 and is issued by Capital Group.