Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Stock Short Interest Drops 46.9%

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 33,856 shares, a drop of 46.9% from the September 30th total of 63,818 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 1,527,770 shares, the short-interest ratio is currently 0.0 days.

Capital Group U.S. Multi-Sector Income ETF Trading Down 0.4%

Shares of NYSEARCA CGMS traded down $0.11 during midday trading on Friday, hitting $26.44. The company’s stock had a trading volume of 1,065,815 shares, compared to its average volume of 1,096,367. The stock has a fifty day moving average price of $26.65 and a 200 day moving average price of $27.25. Capital Group U.S. Multi-Sector Income ETF has a one year low of $26.09 and a one year high of $27.86. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.71 and a beta of 0.30.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 30th will be given a dividend of $0.1176 per share. This is a decrease from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.1402. This represents a $1.41 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, October 30th.

Hedge Funds Weigh In On Capital Group U.S. Multi-Sector Income ETF

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in Capital Group U.S. Multi-Sector Income ETF by 16.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,076,177 shares of the company’s stock worth $248,052,000 after purchasing an additional 1,259,374 shares in the last quarter. Cetera Investment Advisers grew its holdings in Capital Group U.S. Multi-Sector Income ETF by 17.7% during the 1st quarter. Cetera Investment Advisers now owns 4,296,149 shares of the company’s stock valued at $116,984,000 after buying an additional 646,551 shares in the last quarter. Capital Advantage Inc. increased its position in shares of Capital Group U.S. Multi-Sector Income ETF by 51.7% during the second quarter. Capital Advantage Inc. now owns 3,791,682 shares of the company’s stock valued at $103,627,000 after buying an additional 1,292,902 shares during the period. Royal Bank of Canada lifted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 19.5% in the first quarter. Royal Bank of Canada now owns 1,786,838 shares of the company’s stock worth $48,656,000 after buying an additional 291,066 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 135.9% in the first quarter. Valmark Advisers Inc. now owns 1,525,745 shares of the company’s stock worth $41,546,000 after buying an additional 879,055 shares in the last quarter.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.