Capital Group Dividend Value ETF (NYSEARCA:CGDV) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s share price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $49.41 and traded as low as $48.52. Capital Group Dividend Value ETF shares last traded at $48.81, with a volume of 3,363,044 shares changing hands.

Capital Group Dividend Value ETF Price Performance

The business’s 50-day moving average price is $49.41 and its two-hundred day moving average price is $47.44. The firm has a market cap of $38.82 billion, a price-to-earnings ratio of 26.59 and a beta of 0.88.

Capital Group Dividend Value ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.1522 per share. This is a positive change from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.1471. The ex-dividend date was Wednesday, September 30th. This represents a $0.61 dividend on an annualized basis and a yield of 1.2%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Capital Group Dividend Value ETF by 12.0% during the first quarter. Cetera Investment Advisers now owns 18,359,294 shares of the company’s stock worth $781,004,000 after purchasing an additional 1,959,868 shares during the last quarter. WNY Asset Management LLC acquired a new position in Capital Group Dividend Value ETF in the first quarter worth about $67,648,000. Royal Bank of Canada increased its holdings in Capital Group Dividend Value ETF by 19.6% in the first quarter. Royal Bank of Canada now owns 7,479,465 shares of the company’s stock valued at $318,176,000 after buying an additional 1,223,486 shares during the last quarter. Bank of America Corp DE increased its holdings in Capital Group Dividend Value ETF by 7.0% in the first quarter. Bank of America Corp DE now owns 17,913,033 shares of the company’s stock valued at $762,020,000 after buying an additional 1,166,097 shares during the last quarter. Finally, First Pacific Financial increased its holdings in Capital Group Dividend Value ETF by 526.1% in the third quarter. First Pacific Financial now owns 1,067,781 shares of the company’s stock valued at $52,161,000 after buying an additional 897,226 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.