Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) saw unusually-high trading volume on Monday . Approximately 789,280 shares traded hands during mid-day 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 company’s 50-day moving average price is $27.18 and its 200 day moving average price is $27.20.

Capital Group Municipal Income ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 29th were paid a $0.0674 dividend. This is an increase from Capital Group Municipal Income ETF’s previous dividend of $0.07. The ex-dividend date was Friday, November 29th.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGMU. Commonwealth Equity Services LLC grew its stake in shares of Capital Group Municipal Income ETF by 2.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,793,930 shares of the company’s stock worth $49,261,000 after buying an additional 50,942 shares in the last quarter. MML Investors Services LLC grew its position in Capital Group Municipal Income ETF by 111.7% in the third quarter. MML Investors Services LLC now owns 1,203,968 shares of the company’s stock worth $33,061,000 after acquiring an additional 635,133 shares in the last quarter. LPL Financial LLC increased its stake in Capital Group Municipal Income ETF by 32.0% during the second quarter. LPL Financial LLC now owns 1,193,388 shares of the company’s stock worth $32,042,000 after acquiring an additional 289,638 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Capital Group Municipal Income ETF by 42.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988,013 shares of the company’s stock valued at $26,528,000 after purchasing an additional 294,477 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Capital Group Municipal Income ETF by 9.4% in the 3rd quarter. Stifel Financial Corp now owns 970,719 shares of the company’s stock valued at $26,656,000 after purchasing an additional 83,194 shares during 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.