Michael Brady & Co. LLC Makes New Investment in Capital Group Municipal Income ETF $CGMU

Michael Brady & Co. LLC bought a new position in Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the 4th quarter, Holdings Channel reports. The institutional investor bought 272,757 shares of the company’s stock, valued at approximately $7,468,000. Capital Group Municipal Income ETF accounts for approximately 7.5% of Michael Brady & Co. LLC’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Penney Financial LLC purchased a new stake in Capital Group Municipal Income ETF in the 3rd quarter worth approximately $1,604,000. Confluence Wealth Services Inc. lifted its position in Capital Group Municipal Income ETF by 5.3% during the third quarter. Confluence Wealth Services Inc. now owns 746,403 shares of the company’s stock valued at $20,369,000 after purchasing an additional 37,394 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Capital Group Municipal Income ETF by 762.4% during the third quarter. Arkadios Wealth Advisors now owns 70,353 shares of the company’s stock valued at $1,920,000 after purchasing an additional 62,195 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Capital Group Municipal Income ETF by 18.7% during the third quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock valued at $272,854,000 after purchasing an additional 1,573,897 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Capital Group Municipal Income ETF by 11.6% during the fourth quarter. Assetmark Inc. now owns 1,207,850 shares of the company’s stock valued at $33,071,000 after purchasing an additional 125,592 shares during the last quarter.

Capital Group Municipal Income ETF Trading Up 0.0%

Shares of Capital Group Municipal Income ETF stock opened at $27.49 on Tuesday. Capital Group Municipal Income ETF has a 1 year low of $26.22 and a 1 year high of $27.93. The company has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $27.47.

Capital Group Municipal Income ETF Increases Dividend

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

Capital Group Municipal Income ETF Company 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.