Envestnet Portfolio Solutions Inc. Buys 29,286 Shares of Capital Group Municipal Income ETF $CGMU

Envestnet Portfolio Solutions Inc. grew its stake in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) by 10.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 300,041 shares of the company’s stock after purchasing an additional 29,286 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Capital Group Municipal Income ETF were worth $8,215,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CGMU. Smartleaf Asset Management LLC purchased a new position in shares of Capital Group Municipal Income ETF during the third quarter valued at approximately $42,000. CIBC Private Wealth Group LLC purchased a new stake in Capital Group Municipal Income ETF in the third quarter worth about $58,000. Ameriflex Group Inc. purchased a new stake in Capital Group Municipal Income ETF in the third quarter worth about $67,000. Flagship Harbor Advisors LLC purchased a new position in shares of Capital Group Municipal Income ETF during the 4th quarter valued at $78,000. Finally, Root Financial Partners LLC purchased a new position in shares of Capital Group Municipal Income ETF during the 3rd quarter valued at $102,000.

Capital Group Municipal Income ETF Price Performance

CGMU opened at $27.18 on Thursday. The firm has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $27.47. Capital Group Municipal Income ETF has a 52 week low of $26.44 and a 52 week high of $27.93.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 27th were paid a dividend of $0.0827 per share. This is an increase from Capital Group Municipal Income ETF’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, February 27th.

About Capital Group Municipal Income ETF

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.