Beacon Pointe Advisors LLC Buys Shares of 156,859 Capital Group Municipal Income ETF $CGMU

Beacon Pointe Advisors LLC bought a new position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) during the second quarter, Holdings Channel reports. The institutional investor bought 156,859 shares of the company’s stock, valued at approximately $4,187,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pinnacle Bancorp Inc. grew its position in shares of Capital Group Municipal Income ETF by 49.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,962 shares of the company’s stock valued at $52,000 after buying an additional 646 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Capital Group Municipal Income ETF by 81.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,395 shares of the company’s stock valued at $117,000 after acquiring an additional 1,977 shares during the period. Financial Perspectives Inc raised its position in shares of Capital Group Municipal Income ETF by 301.6% during the 2nd quarter. Financial Perspectives Inc now owns 5,008 shares of the company’s stock worth $134,000 after purchasing an additional 3,761 shares during the period. United Advisor Group LLC bought a new stake in shares of Capital Group Municipal Income ETF in the 2nd quarter worth approximately $201,000. Finally, Avaii Wealth Management LLC acquired a new position in Capital Group Municipal Income ETF during the 2nd quarter valued at approximately $210,000.

Capital Group Municipal Income ETF Stock Up 0.1%

Shares of NYSEARCA CGMU opened at $27.36 on Thursday. Capital Group Municipal Income ETF has a 1-year low of $25.83 and a 1-year high of $27.56. The business’s fifty day moving average price is $27.37 and its two-hundred day moving average price is $26.98.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 28th were issued a $0.0689 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, November 28th.

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.