Avantax Advisory Services Inc. Has $1.58 Million Stake in Capital Group Municipal Income ETF (NYSEARCA:CGMU)

Avantax Advisory Services Inc. raised its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 58.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,667 shares of the company’s stock after acquiring an additional 21,530 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Capital Group Municipal Income ETF were worth $1,579,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CGMU. Prospera Financial Services Inc bought a new position in shares of Capital Group Municipal Income ETF in the third quarter valued at about $258,000. First Horizon Advisors Inc. acquired a new stake in Capital Group Municipal Income ETF in the third quarter worth about $122,000. Great Valley Advisor Group Inc. increased its position in Capital Group Municipal Income ETF by 19.1% in the third quarter. Great Valley Advisor Group Inc. now owns 905,293 shares of the company’s stock worth $24,860,000 after purchasing an additional 145,439 shares during the period. Freedom Investment Management Inc. acquired a new stake in Capital Group Municipal Income ETF in the third quarter worth about $284,000. Finally, Captrust Financial Advisors acquired a new stake in Capital Group Municipal Income ETF in the third quarter worth about $384,000.

Capital Group Municipal Income ETF Stock Performance

Capital Group Municipal Income ETF stock opened at $26.99 on Wednesday. Capital Group Municipal Income ETF has a 1 year low of $26.56 and a 1 year high of $27.54. The business has a 50-day moving average of $27.06 and a 200-day moving average of $27.17.

Capital Group Municipal Income ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 31st were given a dividend of $0.0626 per share. The ex-dividend date was Friday, January 31st.

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.