EverSource Wealth Advisors LLC Raises Stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU)

EverSource Wealth Advisors LLC increased its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 19.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,033 shares of the company’s stock after buying an additional 4,508 shares during the period. EverSource Wealth Advisors LLC’s holdings in Capital Group Municipal Income ETF were worth $755,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its holdings in Capital Group Municipal Income ETF by 86.7% during the 4th quarter. HighTower Advisors LLC now owns 15,720 shares of the company’s stock worth $423,000 after purchasing an additional 7,301 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Capital Group Municipal Income ETF by 4.6% during the 4th quarter. Inspire Advisors LLC now owns 78,859 shares of the company’s stock worth $2,123,000 after purchasing an additional 3,470 shares in the last quarter. Independent Advisor Alliance purchased a new stake in Capital Group Municipal Income ETF during the 4th quarter worth about $2,049,000. Oak Hill Wealth Advisors LLC purchased a new stake in Capital Group Municipal Income ETF during the 4th quarter worth about $1,040,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Capital Group Municipal Income ETF during the 4th quarter worth about $2,890,000.

Capital Group Municipal Income ETF Price Performance

Shares of CGMU opened at $27.00 on Friday. The stock’s 50-day simple moving average is $27.06 and its 200 day simple moving average is $27.18. Capital Group Municipal Income ETF has a 52-week low of $26.56 and a 52-week high of $27.54.

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 issued a $0.0626 dividend. The ex-dividend date of this dividend was Friday, January 31st.

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.