Cornerstone Wealth Management LLC Grows Position in Capital Group Municipal Income ETF $CGMU

Cornerstone Wealth Management LLC boosted its position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 120.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,632 shares of the company’s stock after purchasing an additional 20,013 shares during the period. Cornerstone Wealth Management LLC’s holdings in Capital Group Municipal Income ETF were worth $1,000,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in shares of Capital Group Municipal Income ETF by 23.6% during the first quarter. Jane Street Group LLC now owns 228,094 shares of the company’s stock valued at $6,117,000 after buying an additional 43,538 shares during the period. Truist Financial Corp boosted its holdings in Capital Group Municipal Income ETF by 17.1% during the 2nd quarter. Truist Financial Corp now owns 388,310 shares of the company’s stock valued at $10,364,000 after acquiring an additional 56,794 shares during the period. Berger Financial Group Inc bought a new position in Capital Group Municipal Income ETF in the 2nd quarter valued at $658,000. Wealthcare Advisory Partners LLC increased its stake in Capital Group Municipal Income ETF by 8.0% in the second quarter. Wealthcare Advisory Partners LLC now owns 216,377 shares of the company’s stock worth $5,775,000 after purchasing an additional 16,041 shares during the period. Finally, Simplicity Wealth LLC lifted its position in shares of Capital Group Municipal Income ETF by 78.8% during the second quarter. Simplicity Wealth LLC now owns 133,136 shares of the company’s stock worth $3,553,000 after purchasing an additional 58,655 shares during the last quarter.

Capital Group Municipal Income ETF Stock Performance

NYSEARCA CGMU opened at $27.58 on Monday. The company’s 50-day moving average price is $27.45 and its 200-day moving average price is $27.23. Capital Group Municipal Income ETF has a 12 month low of $25.83 and a 12 month high of $27.64.

Capital Group Municipal Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 30th will be issued a $0.0675 dividend. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, January 30th.

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.