Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 52-Week Low – Should You Sell?

Capital Group Municipal Income ETF (NYSEARCA:CGMU)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $26.42 and last traded at $26.5050, with a volume of 2806430 shares trading hands. The stock had previously closed at $26.48.

Capital Group Municipal Income ETF Stock Down 0.1%

The company has a 50 day moving average of $26.97 and a 200-day moving average of $27.24.

Capital Group Municipal Income ETF Increases Dividend

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

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in CGMU. Independent Financial Group LLC purchased a new stake in Capital Group Municipal Income ETF in the first quarter worth about $527,000. World Investment Advisors raised its position in shares of Capital Group Municipal Income ETF by 18.2% in the 4th quarter. World Investment Advisors now owns 196,510 shares of the company’s stock worth $5,380,000 after acquiring an additional 30,297 shares in the last quarter. Western Wealth Management LLC lifted its stake in shares of Capital Group Municipal Income ETF by 91.3% in the 1st quarter. Western Wealth Management LLC now owns 59,505 shares of the company’s stock valued at $1,616,000 after purchasing an additional 28,404 shares during the period. Natixis Advisors LLC boosted its position in shares of Capital Group Municipal Income ETF by 209.9% during the fourth quarter. Natixis Advisors LLC now owns 363,738 shares of the company’s stock valued at $9,959,000 after purchasing an additional 246,372 shares in the last quarter. Finally, Capital International Investors grew its stake in Capital Group Municipal Income ETF by 1.6% in the fourth quarter. Capital International Investors now owns 46,328,510 shares of the company’s stock worth $1,268,475,000 after purchasing an additional 743,875 shares during the period.

About Capital Group Municipal Income ETF

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.