Capital Group Short Duration Municipal Income ETF $CGSM Stock: Park Avenue Securities LLC Trims Stake

Park Avenue Securities LLC cut its holdings in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) by 97.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,862 shares of the company’s stock after selling 484,736 shares during the period. Park Avenue Securities LLC’s holdings in Capital Group Short Duration Municipal Income ETF were worth $382,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in shares of Capital Group Short Duration Municipal Income ETF by 41.1% in the 1st quarter. Cetera Investment Advisers now owns 989,257 shares of the company’s stock valued at $25,998,000 after acquiring an additional 288,245 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Capital Group Short Duration Municipal Income ETF by 7.6% during the second quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock worth $83,125,000 after acquiring an additional 221,888 shares during the last quarter. Kestra Advisory Services LLC raised its position in Capital Group Short Duration Municipal Income ETF by 251.2% during the first quarter. Kestra Advisory Services LLC now owns 310,024 shares of the company’s stock valued at $8,147,000 after purchasing an additional 221,749 shares during the period. Royal Bank of Canada raised its position in Capital Group Short Duration Municipal Income ETF by 85.2% during the first quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock valued at $8,570,000 after purchasing an additional 150,064 shares during the period. Finally, Wealth Science Advisors LLC lifted its stake in shares of Capital Group Short Duration Municipal Income ETF by 368.5% in the 3rd quarter. Wealth Science Advisors LLC now owns 119,300 shares of the company’s stock valued at $3,067,000 after purchasing an additional 93,834 shares during the last quarter.

Capital Group Short Duration Municipal Income ETF Stock Performance

Shares of Capital Group Short Duration Municipal Income ETF stock remained flat at $26.25 on Friday. The stock had a trading volume of 1,375,177 shares, compared to its average volume of 375,774. The firm’s 50-day simple moving average is $26.01 and its 200-day simple moving average is $26.30. Capital Group Short Duration Municipal Income ETF has a 12-month low of $25.59 and a 12-month high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were paid a dividend of $0.0635 per share. The ex-dividend date of this dividend was Friday, October 30th. This is a negative change from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640. This represents a $0.76 annualized dividend and a yield of 2.9%.

Capital Group Short Duration Municipal Income ETF Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.