Capital Group New Geography Equity ETF (NYSEARCA:CGNG) Sees Significant Growth in Short Interest

Capital Group New Geography Equity ETF (NYSEARCA:CGNG) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 209,205 shares, an increase of 103.8% from the April 30th total of 102,663 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 580,195 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Capital Group New Geography Equity ETF

Several hedge funds and other institutional investors have recently modified their holdings of CGNG. Security Financial Services INC. boosted its position in shares of Capital Group New Geography Equity ETF by 18.1% during the first quarter. Security Financial Services INC. now owns 16,394 shares of the company’s stock worth $518,000 after buying an additional 2,512 shares during the period. J. Derek Lewis & Associates Inc. boosted its position in shares of Capital Group New Geography Equity ETF by 21.0% in the first quarter. J. Derek Lewis & Associates Inc. now owns 127,409 shares of the company’s stock worth $4,047,000 after buying an additional 22,128 shares during the period. Western Wealth Management LLC grew its stake in Capital Group New Geography Equity ETF by 146.3% during the 1st quarter. Western Wealth Management LLC now owns 104,598 shares of the company’s stock valued at $3,302,000 after acquiring an additional 62,134 shares in the last quarter. Bank of America Corp DE grew its stake in Capital Group New Geography Equity ETF by 131.4% in the 1st quarter. Bank of America Corp DE now owns 1,302,791 shares of the company’s stock valued at $41,129,000 after buying an additional 739,844 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Capital Group New Geography Equity ETF by 0.7% during the first quarter. Royal Bank of Canada now owns 612,823 shares of the company’s stock worth $19,346,000 after buying an additional 4,033 shares in the last quarter.

Capital Group New Geography Equity ETF Stock Performance

CGNG stock traded up $0.54 during trading on Monday, hitting $37.36. The stock had a trading volume of 336,033 shares, compared to its average volume of 643,664. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 19.57 and a beta of 0.82. Capital Group New Geography Equity ETF has a 1-year low of $27.23 and a 1-year high of $37.36. The company’s 50 day moving average price is $34.16 and its two-hundred day moving average price is $33.26.

Capital Group New Geography Equity ETF Company Profile

The Capital Group New Geography Equity ETF (CGNG) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking long-term capital appreciation through investment in companies from the emerging markets, may include frontier markets securities. CGNG was launched on Jun 25, 2024 and is issued by Capital Group.