Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Sees Significant Drop in Short Interest

Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 281,283 shares, a drop of 74.4% from the February 26th total of 1,100,404 shares. Based on an average daily volume of 1,316,202 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 1,316,202 shares, the days-to-cover ratio is currently 0.2 days.

Capital Group Global Growth Equity ETF Stock Performance

Shares of NYSEARCA CGGO traded up $0.18 during midday trading on Wednesday, reaching $34.08. The company’s stock had a trading volume of 1,161,277 shares, compared to its average volume of 1,404,493. The company has a market cap of $8.32 billion, a P/E ratio of 22.37 and a beta of 0.96. The business’s 50 day moving average price is $35.84 and its two-hundred day moving average price is $34.98. Capital Group Global Growth Equity ETF has a fifty-two week low of $24.67 and a fifty-two week high of $37.10.

Hedge Funds Weigh In On Capital Group Global Growth Equity ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGGO. J. Derek Lewis & Associates Inc. bought a new position in Capital Group Global Growth Equity ETF in the fourth quarter valued at approximately $20,245,000. Rockefeller Capital Management L.P. lifted its stake in Capital Group Global Growth Equity ETF by 60.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 166,190 shares of the company’s stock worth $5,758,000 after purchasing an additional 62,320 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Capital Group Global Growth Equity ETF by 87.3% in the 4th quarter. World Investment Advisors now owns 52,215 shares of the company’s stock valued at $1,809,000 after purchasing an additional 24,332 shares in the last quarter. Advisortrust Partners LLC acquired a new stake in shares of Capital Group Global Growth Equity ETF in the 4th quarter valued at $237,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Capital Group Global Growth Equity ETF in the 4th quarter valued at $202,000.

About Capital Group Global Growth Equity ETF

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.