Capital Group Municipal Income ETF $CGMU Stock: Novem Group Raises Holdings

Novem Group boosted its stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 43.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 137,310 shares of the company’s stock after acquiring an additional 41,391 shares during the period. Novem Group’s holdings in Capital Group Municipal Income ETF were worth $3,562,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CGMU. Stonebridge Financial Group LLC increased its position in Capital Group Municipal Income ETF by 114.7% during the third quarter. Stonebridge Financial Group LLC now owns 765,597 shares of the company’s stock worth $19,860,000 after buying an additional 408,964 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Capital Group Municipal Income ETF in the first quarter valued at $527,000. Western Wealth Management LLC lifted its position in shares of Capital Group Municipal Income ETF by 91.3% in the first quarter. Western Wealth Management LLC now owns 59,505 shares of the company’s stock valued at $1,616,000 after acquiring an additional 28,404 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Capital Group Municipal Income ETF by 24.6% in the first quarter. NewEdge Advisors LLC now owns 224,262 shares of the company’s stock valued at $6,089,000 after acquiring an additional 44,220 shares in the last quarter. Finally, Cornerstone Advisors Asset Management LLC boosted its stake in shares of Capital Group Municipal Income ETF by 23.9% during the second quarter. Cornerstone Advisors Asset Management LLC now owns 223,595 shares of the company’s stock valued at $6,142,000 after acquiring an additional 43,156 shares during the last quarter.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU remained flat at $26.36 during trading hours on Monday. The company had a trading volume of 3,493,010 shares, compared to its average volume of 1,527,048. The company’s fifty day moving average price is $26.58 and its two-hundred day moving average price is $27.07. Capital Group Municipal Income ETF has a fifty-two week low of $25.73 and a fifty-two week high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 29th were issued a $0.0773 dividend. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0702. The ex-dividend date was Tuesday, September 29th. This represents a $0.93 dividend on an annualized basis and a yield of 3.5%.

Capital Group Municipal Income ETF Company Profile

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.