Capital Group Municipal Income ETF (NYSEARCA:CGMU) Reaches New 1-Year Low – Here’s Why

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares hit a new 52-week low on Tuesday . The stock traded as low as $26.48 and last traded at $26.4850, with a volume of 2528689 shares. The stock had previously closed at $26.54.

Capital Group Municipal Income ETF Stock Down 0.2%

The stock has a 50 day moving average of $27.08 and a 200-day moving average of $27.29.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 31st were paid a $0.0878 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a dividend yield of 4.0%.

Institutional Trading of Capital Group Municipal Income ETF

A number of institutional investors have recently modified their holdings of CGMU. CoreCap Advisors LLC grew its stake in Capital Group Municipal Income ETF by 672.6% in the 2nd quarter. CoreCap Advisors LLC now owns 1,043 shares of the company’s stock valued at $29,000 after buying an additional 908 shares in the last quarter. Core Wealth Advisors LLC purchased a new stake in shares of Capital Group Municipal Income ETF during the fourth quarter worth $48,000. Capital Asset Advisory Services LLC purchased a new stake in shares of Capital Group Municipal Income ETF during the first quarter worth $211,000. Mayflower Financial Advisors LLC bought a new position in shares of Capital Group Municipal Income ETF in the first quarter worth $216,000. Finally, Affiance Financial LLC bought a new position in shares of Capital Group Municipal Income ETF in the second quarter worth $219,000.

Capital Group Municipal Income ETF Company 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.