Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Significant Increase in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM – Get Free Report) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 108,071 shares, an increase of 3,287.8% from the April 15th total of 3,190 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 243,753 shares, the short-interest ratio is currently 0.4 days.

Capital Group Short Duration Municipal Income ETF Stock Performance

Shares of NYSEARCA:CGSM remained flat at $26.34 during midday trading on Monday. 201,796 shares of the stock traded hands, compared to its average volume of 271,438. The business’s 50-day moving average is $26.40 and its 200 day moving average is $26.42. Capital Group Short Duration Municipal Income ETF has a 12-month low of $25.87 and a 12-month high of $26.68.

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Capital Group Short Duration Municipal Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were paid a $0.0667 dividend. This is an increase from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, February 27th.

Hedge Funds Weigh In On Capital Group Short Duration Municipal Income ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. EQ Wealth Advisors LLC purchased a new position in Capital Group Short Duration Municipal Income ETF during the fourth quarter worth about $30,000. JPMorgan Chase & Co. raised its stake in Capital Group Short Duration Municipal Income ETF by 409.6% during the third quarter. JPMorgan Chase & Co. now owns 1,641 shares of the company’s stock worth $43,000 after purchasing an additional 1,319 shares during the period. Private Trust Co. NA purchased a new position in Capital Group Short Duration Municipal Income ETF during the fourth quarter worth about $50,000. Lodestone Wealth Management LLC purchased a new position in Capital Group Short Duration Municipal Income ETF during the fourth quarter worth about $51,000. Finally, CoreCap Advisors LLC purchased a new position in Capital Group Short Duration Municipal Income ETF during the fourth quarter worth about $58,000.

Capital Group Short Duration Municipal Income ETF Company Profile

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The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.

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