Capital Group Dividend Value ETF (NYSEARCA:CGDV) Short Interest Down 73.8% in May

Capital Group Dividend Value ETF (NYSEARCA:CGDV) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 652,565 shares, a decline of 73.8% from the May 14th total of 2,490,574 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 3,597,843 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Capital Group Dividend Value ETF

A number of hedge funds have recently added to or reduced their stakes in CGDV. LPL Financial LLC increased its holdings in Capital Group Dividend Value ETF by 20.7% in the fourth quarter. LPL Financial LLC now owns 63,490,640 shares of the company’s stock worth $2,770,731,000 after purchasing an additional 10,904,954 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Capital Group Dividend Value ETF by 448.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,520,015 shares of the company’s stock worth $153,613,000 after purchasing an additional 2,878,723 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Capital Group Dividend Value ETF by 14.3% in the third quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock worth $929,942,000 after purchasing an additional 2,772,053 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Capital Group Dividend Value ETF by 20.1% in the fourth quarter. Wells Fargo & Company MN now owns 16,311,223 shares of the company’s stock worth $711,822,000 after purchasing an additional 2,729,408 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Capital Group Dividend Value ETF by 20.4% in the third quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock worth $666,951,000 after purchasing an additional 2,688,496 shares in the last quarter.

Capital Group Dividend Value ETF Trading Up 0.7%

CGDV stock traded up $0.32 during mid-day trading on Friday, reaching $48.55. The company’s stock had a trading volume of 3,577,980 shares, compared to its average volume of 4,635,872. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 26.59 and a beta of 0.89. The business’s 50 day moving average price is $46.74 and its 200 day moving average price is $45.07. Capital Group Dividend Value ETF has a 12 month low of $38.00 and a 12 month high of $49.10.

Capital Group Dividend Value ETF Company Profile

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.