Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – What’s Next?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares saw an uptick in trading volume on Monday . 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 Price Performance

The firm has a 50-day simple moving average of $27.17 and a 200 day simple moving average of $27.20.

Capital Group Municipal Income ETF Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CGMU. Assetmark Inc. acquired a new stake in Capital Group Municipal Income ETF during the 3rd quarter valued at approximately $19,822,000. MML Investors Services LLC increased its holdings 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 valued at $33,061,000 after buying an additional 635,133 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of Capital Group Municipal Income ETF in the 3rd quarter worth approximately $11,362,000. Janney Montgomery Scott LLC raised its holdings in shares of Capital Group Municipal Income ETF by 2,160.9% during the third quarter. Janney Montgomery Scott LLC now owns 424,593 shares of the company’s stock worth $11,659,000 after purchasing an additional 405,813 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 worth $26,528,000 after buying an additional 294,477 shares during 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.