Modern Wealth Management LLC Acquires 3,857 Shares of Capital Group U.S. Multi-Sector Income ETF $CGMS

Modern Wealth Management LLC lifted its holdings in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 50.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,558 shares of the company’s stock after acquiring an additional 3,857 shares during the quarter. Modern Wealth Management LLC’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CGMS. LPL Financial LLC lifted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 50.1% in the 1st quarter. LPL Financial LLC now owns 8,175,108 shares of the company’s stock worth $223,180,000 after acquiring an additional 2,729,762 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 167.9% in the first quarter. Raymond James Financial Inc. now owns 4,005,277 shares of the company’s stock worth $109,344,000 after buying an additional 2,510,047 shares during the period. BlueStem Wealth Partners LLC purchased a new position in shares of Capital Group U.S. Multi-Sector Income ETF in the first quarter worth $19,251,000. Envestnet Asset Management Inc. increased its stake in shares of Capital Group U.S. Multi-Sector Income ETF by 21.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,636,850 shares of the company’s stock worth $99,286,000 after buying an additional 643,199 shares during the period. Finally, Skyline Advisors Inc. purchased a new position in shares of Capital Group U.S. Multi-Sector Income ETF in the fourth quarter worth $12,592,000.

Capital Group U.S. Multi-Sector Income ETF Stock Up 0.3%

Shares of NYSEARCA CGMS opened at $27.99 on Tuesday. Capital Group U.S. Multi-Sector Income ETF has a 52 week low of $26.08 and a 52 week high of $28.00. The firm’s fifty day moving average is $27.68 and its 200 day moving average is $27.36. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 10.71 and a beta of 0.40.

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

The company also recently announced a monthly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 29th were paid a $0.1371 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, August 29th.

About Capital Group U.S. Multi-Sector Income ETF

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.