Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sets New 52-Week Low – Should You Sell?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares reached a new 52-week low on Monday . The stock traded as low as $26.56 and last traded at $26.66, with a volume of 529919 shares traded. The stock had previously closed at $26.93.

Capital Group Municipal Income ETF Price Performance

The company’s 50-day simple moving average is $27.05 and its two-hundred day simple moving average is $27.11.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 28th were issued a $0.0775 dividend. This is a boost from Capital Group Municipal Income ETF’s previous dividend of $0.06. The ex-dividend date was Friday, March 28th.

Institutional Trading of Capital Group Municipal Income ETF

Several hedge funds have recently bought and sold shares of CGMU. Concourse Financial Group Securities Inc. increased its stake in shares of Capital Group Municipal Income ETF by 1.0% in the fourth quarter. Concourse Financial Group Securities Inc. now owns 37,730 shares of the company’s stock worth $1,015,000 after purchasing an additional 374 shares in the last quarter. Freedom Investment Management Inc. boosted its holdings in Capital Group Municipal Income ETF by 3.7% in the 4th quarter. Freedom Investment Management Inc. now owns 10,727 shares of the company’s stock worth $289,000 after buying an additional 382 shares during the period. Wintrust Investments LLC increased its stake in Capital Group Municipal Income ETF by 13.6% in the 4th quarter. Wintrust Investments LLC now owns 3,559 shares of the company’s stock worth $95,000 after buying an additional 427 shares in the last quarter. CGN Advisors LLC raised its holdings in Capital Group Municipal Income ETF by 5.0% during the fourth quarter. CGN Advisors LLC now owns 9,135 shares of the company’s stock valued at $246,000 after acquiring an additional 434 shares during the period. Finally, Atria Investments Inc lifted its position in shares of Capital Group Municipal Income ETF by 0.6% in the fourth quarter. Atria Investments Inc now owns 111,863 shares of the company’s stock valued at $3,011,000 after acquiring an additional 627 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.