Confluence Wealth Services Inc. Has $30.61 Million Position in Capital Group Municipal Income ETF $CGMU

Confluence Wealth Services Inc. increased its position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,117,976 shares of the company’s stock after purchasing an additional 371,573 shares during the period. Capital Group Municipal Income ETF makes up about 1.3% of Confluence Wealth Services Inc.’s portfolio, making the stock its 18th biggest holding. Confluence Wealth Services Inc. owned approximately 0.62% of Capital Group Municipal Income ETF worth $30,610,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in Capital Group Municipal Income ETF by 3.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,306 shares of the company’s stock worth $363,000 after purchasing an additional 433 shares during the last quarter. Cerity Partners LLC lifted its holdings in Capital Group Municipal Income ETF by 0.7% during the 2nd quarter. Cerity Partners LLC now owns 60,202 shares of the company’s stock worth $1,607,000 after purchasing an additional 433 shares during the last quarter. Seamount Financial Group Inc. lifted its holdings in Capital Group Municipal Income ETF by 3.7% during the 3rd quarter. Seamount Financial Group Inc. now owns 13,163 shares of the company’s stock worth $359,000 after purchasing an additional 464 shares during the last quarter. Transcendent Capital Group LLC lifted its holdings in Capital Group Municipal Income ETF by 2.5% during the 4th quarter. Transcendent Capital Group LLC now owns 20,430 shares of the company’s stock worth $559,000 after purchasing an additional 492 shares during the last quarter. Finally, Financial Perspectives Inc lifted its holdings in Capital Group Municipal Income ETF by 12.2% during the 3rd quarter. Financial Perspectives Inc now owns 5,621 shares of the company’s stock worth $153,000 after purchasing an additional 613 shares during the last quarter.

Capital Group Municipal Income ETF Price Performance

NYSEARCA:CGMU opened at $27.46 on Thursday. The stock has a 50 day simple moving average of $27.52 and a 200 day simple moving average of $27.47. Capital Group Municipal Income ETF has a 1-year low of $26.33 and a 1-year high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were given a dividend of $0.0827 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, February 27th. This is a positive change from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07.

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.