Short Interest in Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) Drops By 45.1%

Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) was the recipient of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 43,635 shares, a drop of 45.1% from the July 30th total of 79,422 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 220,665 shares, the days-to-cover ratio is currently 0.2 days.

Capital Group Short Duration Municipal Income ETF Stock Performance

NYSEARCA:CGSM traded down $0.06 on Tuesday, hitting $26.19. 262,912 shares of the stock were exchanged, compared to its average volume of 329,631. Capital Group Short Duration Municipal Income ETF has a 52 week low of $26.17 and a 52 week high of $26.68. The company’s 50-day moving average price is $26.33 and its 200 day moving average price is $26.38.

Institutional Investors Weigh In On Capital Group Short Duration Municipal Income ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Continuum Advisory LLC acquired a new position in Capital Group Short Duration Municipal Income ETF in the second quarter valued at approximately $42,000. JPMorgan Chase & Co. grew its holdings in Capital Group Short Duration Municipal Income ETF by 409.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,641 shares of the company’s stock worth $43,000 after acquiring an additional 1,319 shares during the period. Comerica Bank raised its position in shares of Capital Group Short Duration Municipal Income ETF by 248.5% during the 3rd quarter. Comerica Bank now owns 2,973 shares of the company’s stock valued at $78,000 after acquiring an additional 2,120 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Capital Group Short Duration Municipal Income ETF during the 1st quarter valued at $101,000. Finally, HB Wealth Management LLC bought a new stake in shares of Capital Group Short Duration Municipal Income ETF during the 2nd quarter valued at $203,000.

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.