Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Significant Increase in Short Interest

Capital Group Municipal Income ETF (NYSEARCA:CGMU) was the recipient of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 1,191,983 shares, a growth of 701.9% from the October 15th total of 148,648 shares. Based on an average trading volume of 3,400,208 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are short sold.

Capital Group Municipal Income ETF Stock Performance

Shares of CGMU traded down $0.17 during trading hours on Thursday, hitting $26.79. The stock had a trading volume of 2,009,177 shares, compared to its average volume of 1,644,276. Capital Group Municipal Income ETF has a 12 month low of $25.73 and a 12 month high of $27.93. The stock has a fifty day moving average price of $26.45 and a 200 day moving average price of $27.15.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were issued a dividend of $0.0763 per share. This is a decrease from Capital Group Municipal Income ETF’s previous monthly dividend of $0.0773. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, October 30th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LongView Wealth Management boosted its stake in Capital Group Municipal Income ETF by 0.3% in the 3rd quarter. LongView Wealth Management now owns 136,772 shares of the company’s stock worth $3,548,000 after purchasing an additional 464 shares during the period. IFG Advisory LLC raised its position in shares of Capital Group Municipal Income ETF by 1.5% during the third quarter. IFG Advisory LLC now owns 41,627 shares of the company’s stock valued at $1,080,000 after buying an additional 597 shares during the last quarter. Ascent Group LLC raised its position in shares of Capital Group Municipal Income ETF by 1.8% during the third quarter. Ascent Group LLC now owns 33,159 shares of the company’s stock valued at $860,000 after buying an additional 600 shares during the last quarter. DiPaolo Financial Group Inc. lifted its holdings in shares of Capital Group Municipal Income ETF by 5.2% in the third quarter. DiPaolo Financial Group Inc. now owns 12,104 shares of the company’s stock worth $314,000 after buying an additional 603 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Capital Group Municipal Income ETF by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 81,614 shares of the company’s stock worth $2,117,000 after buying an additional 610 shares in the last quarter.

About Capital Group Municipal Income ETF

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.