Cullen Frost Bankers Inc. Purchases 22,036 Shares of Capital Group Municipal Income ETF $CGMU

Cullen Frost Bankers Inc. increased its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 65.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,926 shares of the company’s stock after buying an additional 22,036 shares during the period. Cullen Frost Bankers Inc.’s holdings in Capital Group Municipal Income ETF were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Capital Group Municipal Income ETF by 40.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,663,217 shares of the company’s stock valued at $98,248,000 after purchasing an additional 1,053,284 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Capital Group Municipal Income ETF by 8.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,406,932 shares of the company’s stock worth $198,654,000 after acquiring an additional 586,717 shares in the last quarter. LPL Financial LLC grew its stake in shares of Capital Group Municipal Income ETF by 21.0% during the 1st quarter. LPL Financial LLC now owns 2,984,823 shares of the company’s stock worth $80,053,000 after acquiring an additional 517,925 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Capital Group Municipal Income ETF by 89.7% during the 1st quarter. Raymond James Financial Inc. now owns 791,591 shares of the company’s stock worth $21,230,000 after acquiring an additional 374,330 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Capital Group Municipal Income ETF in the second quarter valued at $8,878,000.

Capital Group Municipal Income ETF Price Performance

NYSEARCA:CGMU opened at $27.50 on Friday. The firm has a fifty day simple moving average of $27.15 and a 200 day simple moving average of $26.79. Capital Group Municipal Income ETF has a 1-year low of $25.83 and a 1-year high of $27.51.

Capital Group Municipal Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 29th were given a $0.0718 dividend. The ex-dividend date was Monday, September 29th. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%.

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.