Capital Group Dividend Value ETF (NYSEARCA:CGDV) Sets New 12-Month High – Here’s Why

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s share price reached a new 52-week high on Thursday . The company traded as high as $51.49 and last traded at $51.49, with a volume of 308104 shares traded. The stock had previously closed at $51.25.

Capital Group Dividend Value ETF Stock Down 0.7%

The company’s 50 day simple moving average is $49.29 and its 200-day simple moving average is $46.82. The firm has a market cap of $38.74 billion, a P/E ratio of 26.59 and a beta of 0.88.

Institutional Investors Weigh In On Capital Group Dividend Value ETF

Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC grew its position in Capital Group Dividend Value ETF by 20.7% in the 4th quarter. LPL Financial LLC now owns 63,490,640 shares of the company’s stock valued at $2,770,731,000 after acquiring an additional 10,904,954 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Capital Group Dividend Value ETF by 448.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 3,520,015 shares of the company’s stock worth $153,613,000 after purchasing an additional 2,878,723 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Capital Group Dividend Value ETF by 14.3% during the third quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock worth $929,942,000 after purchasing an additional 2,772,053 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Capital Group Dividend Value ETF by 20.1% during the fourth quarter. Wells Fargo & Company MN now owns 16,311,223 shares of the company’s stock valued at $711,822,000 after purchasing an additional 2,729,408 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Capital Group Dividend Value ETF by 20.4% during the third quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock valued at $666,951,000 after purchasing an additional 2,688,496 shares during the period.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.