Capital Group Growth ETF (NYSEARCA:CGGR) Sees Significant Growth in Short Interest

Capital Group Growth ETF (NYSEARCA:CGGR) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 4,375,915 shares, an increase of 279.2% from the July 15th total of 1,153,862 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 2,587,117 shares, the days-to-cover ratio is presently 1.7 days.

Capital Group Growth ETF Price Performance

CGGR stock opened at $47.20 on Friday. The company has a market capitalization of $25.40 billion, a P/E ratio of 30.88 and a beta of 1.18. The business has a 50-day moving average price of $46.14 and a 200 day moving average price of $44.55. Capital Group Growth ETF has a 1-year low of $38.55 and a 1-year high of $48.02.

Hedge Funds Weigh In On Capital Group Growth ETF

Hedge funds have recently modified their holdings of the stock. Valmark Advisers Inc. raised its stake in shares of Capital Group Growth ETF by 51.2% during the 4th quarter. Valmark Advisers Inc. now owns 873,172 shares of the company’s stock worth $38,830,000 after buying an additional 295,543 shares during the period. Oxinas Partners LLC raised its position in shares of Capital Group Growth ETF by 761.6% during the 4th quarter. Oxinas Partners LLC now owns 82,334 shares of the company’s stock valued at $3,661,000 after buying an additional 72,778 shares during the period. CWM LLC grew its holdings in shares of Capital Group Growth ETF by 3.1% during the 4th quarter. CWM LLC now owns 2,255,337 shares of the company’s stock worth $100,295,000 after purchasing an additional 68,448 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Capital Group Growth ETF by 69.9% in the 4th quarter. Cornerstone Wealth Management LLC now owns 62,020 shares of the company’s stock worth $2,758,000 after acquiring an additional 25,522 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Capital Group Growth ETF by 51.5% during the fourth quarter. Assetmark Inc. now owns 556,817 shares of the company’s stock worth $24,762,000 after buying an additional 189,316 shares during the period.

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.