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

Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw an uptick in trading volume on Monday . 789,280 shares changed hands during trading, an increase of 64% from the previous session’s volume of 480,590 shares.The stock last traded at $26.97 and had previously closed at $26.98.

Capital Group Municipal Income ETF Stock Performance

The stock’s 50-day simple moving average is $27.18 and its two-hundred day simple moving average is $27.20.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 29th were given a $0.0674 dividend. This is a positive change from Capital Group Municipal Income ETF’s previous dividend of $0.07. The ex-dividend date of this dividend was Friday, November 29th.

Institutional Investors Weigh In On Capital Group Municipal Income ETF

A number of institutional investors and hedge funds have recently modified their holdings of CGMU. Raymond James & Associates boosted its position in Capital Group Municipal Income ETF by 19.9% in the 3rd quarter. Raymond James & Associates now owns 148,174 shares of the company’s stock valued at $4,069,000 after buying an additional 24,598 shares during the period. Smith Thornton Advisors LLC bought a new position in Capital Group Municipal Income ETF in the second quarter worth approximately $750,000. New England Capital Financial Advisors LLC increased its holdings in Capital Group Municipal Income ETF by 6.7% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 118,186 shares of the company’s stock worth $3,173,000 after purchasing an additional 7,390 shares during the period. LPL Financial LLC raised its position in Capital Group Municipal Income ETF by 32.0% during the 2nd quarter. LPL Financial LLC now owns 1,193,388 shares of the company’s stock valued at $32,042,000 after purchasing an additional 289,638 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in Capital Group Municipal Income ETF by 27.3% during the 2nd quarter. Harbour Investments Inc. now owns 25,685 shares of the company’s stock valued at $690,000 after purchasing an additional 5,509 shares in 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.