KWB Wealth Acquires New Shares in Capital Group Municipal Income ETF $CGMU

KWB Wealth bought a new stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the fourth quarter, Holdings Channel reports. The fund bought 37,534 shares of the company’s stock, valued at approximately $1,028,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CGMU. Capital International Investors boosted its holdings in Capital Group Municipal Income ETF by 14.8% in the 3rd quarter. Capital International Investors now owns 45,584,635 shares of the company’s stock valued at $1,244,005,000 after purchasing an additional 5,890,074 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Capital Group Municipal Income ETF by 18.7% in the third quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock worth $272,854,000 after purchasing an additional 1,573,897 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Capital Group Municipal Income ETF by 32.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 6,597,766 shares of the company’s stock worth $180,053,000 after purchasing an additional 1,620,219 shares during the period. UBS Group AG raised its position in shares of Capital Group Municipal Income ETF by 12.3% in the third quarter. UBS Group AG now owns 3,582,696 shares of the company’s stock worth $97,772,000 after buying an additional 393,042 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Capital Group Municipal Income ETF by 3.0% in the third quarter. Commonwealth Equity Services LLC now owns 2,361,585 shares of the company’s stock worth $64,448,000 after buying an additional 69,685 shares in the last quarter.

Capital Group Municipal Income ETF Trading Up 0.1%

Shares of CGMU opened at $27.31 on Tuesday. Capital Group Municipal Income ETF has a 12-month low of $25.83 and a 12-month high of $27.93. The stock has a 50-day moving average price of $27.65 and a 200-day moving average price of $27.46.

Capital Group Municipal Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were paid a dividend of $0.0827 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Friday, February 27th.

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.