Benjamin Edwards Inc. Raises Stock Position in Capital Group Municipal Income ETF $CGMU

Benjamin Edwards Inc. boosted its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 30.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 296,795 shares of the company’s stock after acquiring an additional 70,124 shares during the period. Benjamin Edwards Inc. owned about 0.19% of Capital Group Municipal Income ETF worth $8,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in shares of Capital Group Municipal Income ETF by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 8,424,405 shares of the company’s stock worth $224,847,000 after purchasing an additional 1,017,473 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Capital Group Municipal Income ETF by 35.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,977,547 shares of the company’s stock worth $132,851,000 after buying an additional 1,314,330 shares during the last quarter. Cetera Investment Advisers increased its stake in Capital Group Municipal Income ETF by 14.7% during the 2nd quarter. Cetera Investment Advisers now owns 2,954,080 shares of the company’s stock worth $78,844,000 after buying an additional 378,221 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Capital Group Municipal Income ETF by 3.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,361,585 shares of the company’s stock worth $64,448,000 after buying an additional 69,685 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Capital Group Municipal Income ETF by 36.5% during the second quarter. Osaic Holdings Inc. now owns 2,033,631 shares of the company’s stock valued at $54,300,000 after acquiring an additional 543,338 shares during the last quarter.

Capital Group Municipal Income ETF Stock Performance

NYSEARCA CGMU opened at $27.51 on Friday. The stock’s 50 day simple moving average is $27.39 and its 200-day simple moving average is $27.13. Capital Group Municipal Income ETF has a 1-year low of $25.83 and a 1-year high of $27.56.

Capital Group Municipal Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, December 26th. Shareholders of record on Wednesday, December 24th were issued a $0.0872 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Wednesday, December 24th. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

Capital Group Municipal Income ETF 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.