Beacon Pointe Advisors LLC Purchases New Position in Capital Group Municipal Income ETF $CGMU

Beacon Pointe Advisors LLC acquired a new position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 156,859 shares of the company’s stock, valued at approximately $4,187,000. Beacon Pointe Advisors LLC owned approximately 0.12% of Capital Group Municipal Income ETF at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC lifted its position in Capital Group Municipal Income ETF by 3.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 12,873 shares of the company’s stock worth $344,000 after acquiring an additional 386 shares in the last quarter. Nwam LLC raised its stake in shares of Capital Group Municipal Income ETF by 2.5% during the second quarter. Nwam LLC now owns 18,147 shares of the company’s stock valued at $484,000 after purchasing an additional 439 shares during the period. CWM LLC lifted its position in shares of Capital Group Municipal Income ETF by 0.7% during the second quarter. CWM LLC now owns 61,874 shares of the company’s stock worth $1,651,000 after purchasing an additional 457 shares in the last quarter. Seamount Financial Group Inc. boosted its stake in shares of Capital Group Municipal Income ETF by 4.8% in the second quarter. Seamount Financial Group Inc. now owns 12,699 shares of the company’s stock valued at $339,000 after purchasing an additional 576 shares during the period. Finally, Pinnacle Bancorp Inc. grew its holdings in Capital Group Municipal Income ETF by 49.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,962 shares of the company’s stock valued at $52,000 after purchasing an additional 646 shares in the last quarter.

Capital Group Municipal Income ETF Stock Up 0.1%

Capital Group Municipal Income ETF stock opened at $27.36 on Thursday. Capital Group Municipal Income ETF has a 12-month low of $25.83 and a 12-month high of $27.56. The firm’s fifty day moving average price is $27.37 and its 200 day moving average price is $26.98.

Capital Group Municipal Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 28th were given a dividend of $0.0689 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, November 28th.

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.