Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sees Large Growth in Short Interest

Capital Group Core Plus Income ETF (NYSEARCA:CGCP) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 958,647 shares, an increase of 60.5% from the February 26th total of 597,219 shares. Based on an average daily volume of 1,928,671 shares, the short-interest ratio is presently 0.5 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Capital Group Core Plus Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Capital Group Core Plus Income ETF by 24.7% during the fourth quarter. Capital International Investors now owns 41,266,604 shares of the company’s stock valued at $934,276,000 after purchasing an additional 8,184,599 shares during the last quarter. LPL Financial LLC increased its stake in shares of Capital Group Core Plus Income ETF by 25.1% in the fourth quarter. LPL Financial LLC now owns 23,722,685 shares of the company’s stock worth $537,082,000 after purchasing an additional 4,757,976 shares in the last quarter. Morgan Stanley increased its stake in shares of Capital Group Core Plus Income ETF by 14.2% in the fourth quarter. Morgan Stanley now owns 18,386,647 shares of the company’s stock worth $416,274,000 after purchasing an additional 2,287,585 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Capital Group Core Plus Income ETF by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 14,897,308 shares of the company’s stock valued at $337,275,000 after purchasing an additional 1,861,484 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Capital Group Core Plus Income ETF by 18.7% in the third quarter. Envestnet Asset Management Inc. now owns 9,025,453 shares of the company’s stock valued at $205,058,000 after purchasing an additional 1,423,949 shares during the period.

Capital Group Core Plus Income ETF Stock Performance

NYSEARCA:CGCP traded down $0.01 during trading hours on Friday, reaching $22.23. The stock had a trading volume of 1,707,691 shares, compared to its average volume of 1,700,364. The stock has a market cap of $6.66 billion, a P/E ratio of 10.69 and a beta of 0.36. The stock has a 50 day simple moving average of $22.65 and a 200 day simple moving average of $22.73. Capital Group Core Plus Income ETF has a 12-month low of $21.74 and a 12-month high of $23.00.

Capital Group Core Plus Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were paid a dividend of $0.0845 per share. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, February 27th. This is a positive change from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.08.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.