Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Unusually-High Trading Volume – Here’s What Happened

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw strong trading volume on Wednesday. Approximately 2,882,495 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 1,482,094 shares. The stock last traded at $26.0850 and had previously closed at $26.19.

Capital Group Municipal Income ETF Trading Down 0.2%

The company has a 50-day moving average price of $26.63 and a 200-day moving average price of $27.09.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 29th were given 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 annualized dividend and a yield of 3.5%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Capital Group Municipal Income ETF by 119.9% during the first quarter. Bank of America Corp DE now owns 1,696,201 shares of the company’s stock worth $46,052,000 after acquiring an additional 924,704 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Capital Group Municipal Income ETF by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,701,352 shares of the company’s stock worth $376,376,000 after acquiring an additional 859,323 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Capital Group Municipal Income ETF in the 4th quarter worth approximately $20,504,000. Cetera Investment Advisers grew its holdings in shares of Capital Group Municipal Income ETF by 17.3% in the 1st quarter. Cetera Investment Advisers now owns 4,877,693 shares of the company’s stock worth $132,429,000 after acquiring an additional 720,377 shares during the period. Finally, Clear Trail Advisors LLC purchased a new position in Capital Group Municipal Income ETF in the 1st quarter valued at approximately $13,906,000.

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.