Capital Group Dividend Growers ETF (NYSEARCA:CGDG) Hits New 12-Month High – Should You Buy?

Shares of Capital Group Dividend Growers ETF (NYSEARCA:CGDG) hit a new 52-week high during trading on Thursday . The stock traded as high as $37.87 and last traded at $37.83, with a volume of 757730 shares. The stock had previously closed at $37.59.

Capital Group Dividend Growers ETF Stock Up 0.6%

The company has a market cap of $4.56 billion, a P/E ratio of 20.18 and a beta of 0.56. The stock has a 50 day moving average price of $36.23 and a two-hundred day moving average price of $35.14.

Capital Group Dividend Growers 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 $0.1841 per share. This is an increase from Capital Group Dividend Growers ETF’s previous quarterly dividend of $0.15. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, December 26th.

Hedge Funds Weigh In On Capital Group Dividend Growers ETF

A number of hedge funds have recently bought and sold shares of the business. Advance Capital Management Inc. boosted its holdings in Capital Group Dividend Growers ETF by 96.6% in the 3rd quarter. Advance Capital Management Inc. now owns 5,249,253 shares of the company’s stock valued at $181,887,000 after purchasing an additional 2,579,574 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Capital Group Dividend Growers ETF by 37.6% in the third quarter. Envestnet Asset Management Inc. now owns 8,036,810 shares of the company’s stock valued at $278,475,000 after buying an additional 2,194,089 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Capital Group Dividend Growers ETF by 25.0% in the fourth quarter. LPL Financial LLC now owns 9,651,113 shares of the company’s stock valued at $343,966,000 after buying an additional 1,929,512 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Capital Group Dividend Growers ETF by 166.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,011,123 shares of the company’s stock worth $77,024,000 after buying an additional 1,255,064 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in Capital Group Dividend Growers ETF by 33.7% during the 3rd quarter. Raymond James Financial Inc. now owns 3,547,167 shares of the company’s stock worth $122,909,000 after acquiring an additional 894,780 shares during the period.

Capital Group Dividend Growers ETF Company Profile

The Capital Group Dividend Growers ETF (CGDG) is an exchange-traded fund that mostly invests in total market equity. The fund actively selects dividend-paying companies globally that are attractively valued and believed to provide dividend growth. It employs a multi-manager approach to portfolio management. CGDG was launched on Sep 26, 2023 and is issued by Capital Group.