Capital Group Dividend Value ETF (NYSEARCA:CGDV) Hits New 52-Week High – Still a Buy?

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $51.49 and last traded at $51.09, with a volume of 4362460 shares trading hands. The stock had previously closed at $51.08.

Capital Group Dividend Value ETF Price Performance

The firm has a 50-day simple moving average of $49.04 and a two-hundred day simple moving average of $46.58. The company has a market cap of $38.91 billion, a PE ratio of 26.59 and a beta of 0.88.

Institutional Trading of Capital Group Dividend Value ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGDV. AQR Capital Management LLC acquired a new stake in shares of Capital Group Dividend Value ETF during the 1st quarter worth about $236,000. Franklin Resources Inc. acquired a new position in shares of Capital Group Dividend Value ETF in the second quarter valued at approximately $226,000. Russell Investments Group Ltd. lifted its stake in shares of Capital Group Dividend Value ETF by 24.9% during the second quarter. Russell Investments Group Ltd. now owns 4,638 shares of the company’s stock valued at $183,000 after buying an additional 925 shares during the period. Brown Advisory Inc. lifted its stake in shares of Capital Group Dividend Value ETF by 22.7% during the second quarter. Brown Advisory Inc. now owns 22,270 shares of the company’s stock valued at $879,000 after buying an additional 4,118 shares during the period. Finally, Sei Investments Co. boosted its position in Capital Group Dividend Value ETF by 21.1% during the second quarter. Sei Investments Co. now owns 1,169,992 shares of the company’s stock worth $46,203,000 after acquiring an additional 203,772 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.