Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Shares Shorted: Short Interest Up 94.2% in October

Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,662,828 shares, an increase of 94.2% from the September 30th total of 856,346 shares. Based on an average daily volume of 1,084,641 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.5% of the shares of the company are short sold.

Capital Group Global Growth Equity ETF Price Performance

Shares of NYSEARCA CGGO traded up $0.31 during mid-day trading on Monday, reaching $37.78. 481,263 shares of the company’s stock were exchanged, compared to its average volume of 1,275,288. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 22.37 and a beta of 1.02. Capital Group Global Growth Equity ETF has a 52 week low of $31.94 and a 52 week high of $42.88. The firm has a 50-day moving average price of $39.46 and a two-hundred day moving average price of $38.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in Capital Group Global Growth Equity ETF by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 1,713,417 shares of the company’s stock valued at $72,529,000 after acquiring an additional 49,520 shares during the period. World Investment Advisors increased its stake in Capital Group Global Growth Equity ETF by 57.2% in the 1st quarter. World Investment Advisors now owns 82,081 shares of the company’s stock worth $2,739,000 after purchasing an additional 29,866 shares during the period. WNY Asset Management LLC purchased a new position in Capital Group Global Growth Equity ETF in the 1st quarter worth approximately $23,784,000. Waverly Advisors LLC bought a new stake in Capital Group Global Growth Equity ETF in the second quarter valued at approximately $892,000. Finally, Valmark Advisers Inc. lifted its position in Capital Group Global Growth Equity ETF by 11.3% in the first quarter. Valmark Advisers Inc. now owns 841,093 shares of the company’s stock valued at $28,067,000 after purchasing an additional 85,283 shares during the last quarter.

About Capital Group Global Growth Equity ETF

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.