Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – Still a Buy?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw strong trading volume on Friday . 764,791 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 510,115 shares.The stock last traded at $27.15 and had previously closed at $27.14.

Capital Group Municipal Income ETF Price Performance

The business has a 50 day simple moving average of $26.99 and a 200-day simple moving average of $27.19.

Capital Group Municipal Income ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 31st were given a dividend of $0.0626 per share. The ex-dividend date of this dividend was Friday, January 31st.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CGMU. Capital International Investors raised its holdings in Capital Group Municipal Income ETF by 2.9% during the 4th quarter. Capital International Investors now owns 39,111,005 shares of the company’s stock valued at $1,052,868,000 after buying an additional 1,120,266 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Capital Group Municipal Income ETF by 164,421.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,110,522 shares of the company’s stock worth $30,495,000 after acquiring an additional 1,109,847 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Capital Group Municipal Income ETF in the third quarter valued at about $19,822,000. Envestnet Asset Management Inc. raised its stake in shares of Capital Group Municipal Income ETF by 11.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,820,215 shares of the company’s stock valued at $183,600,000 after acquiring an additional 707,264 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Capital Group Municipal Income ETF by 111.7% during the third quarter. MML Investors Services LLC now owns 1,203,968 shares of the company’s stock valued at $33,061,000 after acquiring an additional 635,133 shares during the last quarter.

Capital Group Municipal Income ETF Company Profile

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.