Capital Group Dividend Value ETF (NYSEARCA:CGDV) Reaches New 1-Year High – Should You Buy?

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s stock price reached a new 52-week high on Monday . The company traded as high as $44.69 and last traded at $44.6550, with a volume of 2988707 shares trading hands. The stock had previously closed at $44.43.

Capital Group Dividend Value ETF Trading Up 0.4%

The company has a market capitalization of $28.04 billion, a P/E ratio of 26.59 and a beta of 0.89. The stock’s fifty day moving average is $43.71 and its 200 day moving average is $42.40.

Capital Group Dividend Value ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Friday, December 26th were issued a dividend of $0.1928 per share. This is an increase from Capital Group Dividend Value ETF’s previous quarterly dividend of $0.14. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, December 26th.

Institutional Investors Weigh In On Capital Group Dividend Value ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. raised its holdings in Capital Group Dividend Value ETF by 14.3% in the 3rd quarter. Raymond James Financial Inc. now owns 22,125,677 shares of the company’s stock worth $929,942,000 after purchasing an additional 2,772,053 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Capital Group Dividend Value ETF by 20.4% during the 3rd quarter. Bank of America Corp DE now owns 15,868,443 shares of the company’s stock valued at $666,951,000 after purchasing an additional 2,688,496 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Capital Group Dividend Value ETF by 39.1% in the third quarter. Jones Financial Companies Lllp now owns 7,854,486 shares of the company’s stock worth $328,634,000 after buying an additional 2,208,093 shares in the last quarter. Cetera Investment Advisers raised its stake in Capital Group Dividend Value ETF by 17.1% in the second quarter. Cetera Investment Advisers now owns 11,850,016 shares of the company’s stock worth $467,957,000 after buying an additional 1,730,269 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV purchased a new stake in Capital Group Dividend Value ETF in the third quarter worth about $70,987,000.

Capital Group Dividend Value ETF Company Profile

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.