Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Sees Large Increase in Short Interest

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 163,031 shares, a growth of 84.1% from the June 15th total of 88,555 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 1,391,493 shares, the days-to-cover ratio is currently 0.1 days.

Capital Group Short Duration Municipal Income ETF Stock Performance

NYSEARCA CGSM opened at $26.34 on Friday. Capital Group Short Duration Municipal Income ETF has a 52-week low of $26.10 and a 52-week high of $26.68. The company has a 50-day simple moving average of $26.35 and a 200 day simple moving average of $26.42.

Hedge Funds Weigh In On Capital Group Short Duration Municipal Income ETF

A number of large investors have recently made changes to their positions in the stock. Wealth Science Advisors LLC bought a new position in Capital Group Short Duration Municipal Income ETF in the 2nd quarter valued at $672,000. First Heartland Consultants Inc. grew its position in shares of Capital Group Short Duration Municipal Income ETF by 4.2% during the 2nd quarter. First Heartland Consultants Inc. now owns 14,815 shares of the company’s stock valued at $391,000 after purchasing an additional 600 shares in the last quarter. Apella Capital LLC increased its holdings in shares of Capital Group Short Duration Municipal Income ETF by 0.4% in the second quarter. Apella Capital LLC now owns 152,619 shares of the company’s stock worth $4,028,000 after purchasing an additional 663 shares during the period. Western Wealth Management LLC bought a new position in shares of Capital Group Short Duration Municipal Income ETF in the first quarter worth $302,000. Finally, NewEdge Advisors LLC raised its position in shares of Capital Group Short Duration Municipal Income ETF by 40.6% in the first quarter. NewEdge Advisors LLC now owns 72,803 shares of the company’s stock worth $1,913,000 after buying an additional 21,013 shares in the last quarter.

Capital Group Short Duration Municipal Income ETF Company Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.