Envestnet Portfolio Solutions Inc. Raises Stake in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS)

Envestnet Portfolio Solutions Inc. grew its holdings in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 114.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 126,407 shares of the company’s stock after acquiring an additional 67,501 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $3,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Great Valley Advisor Group Inc. acquired a new position in Capital Group U.S. Multi-Sector Income ETF in the 3rd quarter valued at about $46,477,000. Raymond James Financial Inc. purchased a new stake in shares of Capital Group U.S. Multi-Sector Income ETF during the fourth quarter worth approximately $40,790,000. Stifel Financial Corp raised its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 453.4% during the third quarter. Stifel Financial Corp now owns 497,812 shares of the company’s stock worth $13,859,000 after purchasing an additional 407,858 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 990.3% during the fourth quarter. Atria Investments Inc now owns 434,488 shares of the company’s stock worth $11,853,000 after purchasing an additional 394,636 shares during the period. Finally, EQ Wealth Advisors LLC purchased a new position in Capital Group U.S. Multi-Sector Income ETF in the 4th quarter valued at $10,477,000.

Capital Group U.S. Multi-Sector Income ETF Stock Performance

Shares of CGMS opened at $27.52 on Thursday. Capital Group U.S. Multi-Sector Income ETF has a 1 year low of $26.49 and a 1 year high of $28.00. The stock has a market capitalization of $2.51 billion, a P/E ratio of 10.88 and a beta of 0.38. The company’s fifty day moving average is $27.46 and its two-hundred day moving average is $27.54.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 31st were issued a $0.1089 dividend. The ex-dividend date was Friday, January 31st.

Capital Group U.S. Multi-Sector Income ETF Company Profile

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.