Capital Group Dividend Value ETF (NYSEARCA:CGDV) Reaches New 52-Week High – Here’s What Happened

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s share price hit a new 52-week high on Friday . The company traded as high as $49.61 and last traded at $49.34, with a volume of 384841 shares changing hands. The stock had previously closed at $49.23.

Capital Group Dividend Value ETF Stock Performance

The firm’s 50-day moving average is $48.74 and its two-hundred day moving average is $46.33. The stock has a market cap of $37.06 billion, a P/E ratio of 26.59 and a beta of 0.88.

Institutional Investors Weigh In On Capital Group Dividend Value ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its holdings in Capital Group Dividend Value ETF by 20.7% during the 4th 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 during the last quarter. Raymond James Financial Inc. grew its position in shares of Capital Group Dividend Value ETF by 6.6% during the 4th quarter. Raymond James Financial Inc. now owns 23,591,243 shares of the company’s stock worth $1,029,522,000 after buying an additional 1,465,566 shares during the period. Capital International Investors grew its position in shares of Capital Group Dividend Value ETF by 1.8% during the 4th quarter. Capital International Investors now owns 22,899,119 shares of the company’s stock worth $999,318,000 after buying an additional 397,762 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Capital Group Dividend Value ETF by 12.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,754,937 shares of the company’s stock worth $818,465,000 after buying an additional 2,061,385 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Capital Group Dividend Value ETF by 12.0% in the first quarter. Cetera Investment Advisers now owns 18,359,294 shares of the company’s stock valued at $781,004,000 after buying an additional 1,959,868 shares during the period.

About Capital Group Dividend Value ETF

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.