Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Large Increase in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 97,841 shares, a growth of 63.6% from the January 15th total of 59,788 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 323,506 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 323,506 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the shares of the company are short sold.

Capital Group Short Duration Municipal Income ETF Price Performance

Shares of CGSM stock remained flat at $26.62 during mid-day trading on Friday. 294,345 shares of the stock were exchanged, compared to its average volume of 277,661. Capital Group Short Duration Municipal Income ETF has a 12-month low of $25.55 and a 12-month high of $26.64. The firm’s 50 day moving average price is $26.45 and its 200 day moving average price is $26.38.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 30th were paid a $0.058 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 2.6%.

Institutional Investors Weigh In On Capital Group Short Duration Municipal Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. bought a new stake in Capital Group Short Duration Municipal Income ETF during the 1st quarter worth approximately $242,000. Royal Bank of Canada raised its position in shares of Capital Group Short Duration Municipal Income ETF by 31.5% during the 1st quarter. Royal Bank of Canada now owns 139,130 shares of the company’s stock valued at $3,619,000 after purchasing an additional 33,367 shares during the period. Jane Street Group LLC lifted its stake in shares of Capital Group Short Duration Municipal Income ETF by 327.9% during the 1st quarter. Jane Street Group LLC now owns 117,653 shares of the company’s stock valued at $3,060,000 after buying an additional 90,157 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Capital Group Short Duration Municipal Income ETF in the 2nd quarter worth $210,000. Finally, Cottonwood Capital Advisors LLC boosted its holdings in Capital Group Short Duration Municipal Income ETF by 53.4% in the 2nd quarter. Cottonwood Capital Advisors LLC now owns 62,631 shares of the company’s stock worth $1,633,000 after buying an additional 21,810 shares during the period.

Capital Group Short Duration Municipal Income ETF Company 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.