Capital Group Dividend Value ETF (NYSEARCA:CGDV) Reaches New 52-Week High – What’s Next?

Capital Group Dividend Value ETF (NYSEARCA:CGDV) reached a new 52-week high on Monday . The stock traded as high as $45.56 and last traded at $45.51, with a volume of 703921 shares trading hands. The stock had previously closed at $45.47.

Capital Group Dividend Value ETF Stock Performance

The company has a 50 day moving average price of $44.11 and a 200 day moving average price of $42.69. The company has a market capitalization of $29.19 billion, a PE ratio of 26.59 and a beta of 0.89.

Capital Group Dividend Value ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Friday, December 26th were issued a dividend of $0.1928 per share. The ex-dividend date of this dividend was Friday, December 26th. This is an increase from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.14. This represents a $0.77 dividend on an annualized basis and a yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGDV. Axxcess Wealth Management LLC boosted its holdings in Capital Group Dividend Value ETF by 448.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 3,520,015 shares of the company’s stock valued at $153,613,000 after purchasing an additional 2,878,723 shares during the period. Raymond James Financial Inc. raised its position in shares of Capital Group Dividend Value ETF by 14.3% during the third quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock worth $929,942,000 after purchasing an additional 2,772,053 shares during the period. Bank of America Corp DE grew its holdings in shares of Capital Group Dividend Value ETF by 20.4% during the third quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock worth $666,951,000 after buying an additional 2,688,496 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Capital Group Dividend Value ETF by 39.1% during the third quarter. Jones Financial Companies Lllp now owns 7,854,486 shares of the company’s stock worth $328,634,000 after acquiring an additional 2,208,093 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Capital Group Dividend Value ETF by 17.1% in the 2nd quarter. Cetera Investment Advisers now owns 11,850,016 shares of the company’s stock valued at $467,957,000 after purchasing an additional 1,730,269 shares during the last quarter.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks. CGDV was launched on Feb 22, 2022 and is managed by Capital Group.