Capital Group Growth ETF (NYSEARCA:CGGR) Reaches New 12-Month High – Time to Buy?

Capital Group Growth ETF (NYSEARCA:CGGR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.83 and last traded at $46.81, with a volume of 353933 shares changing hands. The stock had previously closed at $46.06.

Capital Group Growth ETF Trading Up 1.7%

The stock has a market capitalization of $23.28 billion, a PE ratio of 30.88 and a beta of 1.17. The company’s 50-day moving average is $43.34 and its 200 day moving average is $43.71.

Hedge Funds Weigh In On Capital Group Growth ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. raised its position in shares of Capital Group Growth ETF by 806.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 562 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Capital Group Growth ETF in the 3rd quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Capital Group Growth ETF in the 3rd quarter valued at approximately $25,000. Triumph Capital Management purchased a new position in shares of Capital Group Growth ETF in the 3rd quarter valued at approximately $29,000. Finally, Fifth Third Bancorp raised its position in shares of Capital Group Growth ETF by 285.9% in the 3rd quarter. Fifth Third Bancorp now owns 683 shares of the company’s stock valued at $30,000 after purchasing an additional 506 shares during the last quarter.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.