Capital Group Dividend Value ETF (NYSEARCA:CGDV) Sees Large Decrease in Short Interest

Capital Group Dividend Value ETF (NYSEARCA:CGDV) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 652,565 shares, a drop of 73.8% from the May 14th total of 2,490,574 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 3,597,843 shares, the days-to-cover ratio is presently 0.2 days.

Capital Group Dividend Value ETF Trading Up 2.0%

CGDV stock traded up $0.96 during midday trading on Thursday, hitting $48.23. The stock had a trading volume of 3,304,250 shares, compared to its average volume of 4,645,402. The firm has a market capitalization of $34.78 billion, a price-to-earnings ratio of 26.59 and a beta of 0.89. Capital Group Dividend Value ETF has a 52 week low of $38.00 and a 52 week high of $49.10. The stock has a 50-day simple moving average of $46.63 and a 200 day simple moving average of $45.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in shares of Capital Group Dividend Value ETF by 20.7% during the fourth quarter. LPL Financial LLC now owns 63,490,640 shares of the company’s stock valued at $2,770,731,000 after acquiring an additional 10,904,954 shares during the period. Raymond James Financial Inc. raised its stake in shares of Capital Group Dividend Value ETF by 6.6% in the fourth quarter. Raymond James Financial Inc. now owns 23,591,243 shares of the company’s stock valued at $1,029,522,000 after acquiring an additional 1,465,566 shares during the last quarter. Capital International Investors raised its holdings in shares of Capital Group Dividend Value ETF by 1.8% in the fourth quarter. Capital International Investors now owns 22,899,119 shares of the company’s stock valued at $999,318,000 after buying an additional 397,762 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Capital Group Dividend Value ETF by 12.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,754,937 shares of the company’s stock valued at $818,465,000 after buying an additional 2,061,385 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Capital Group Dividend Value ETF by 12.0% in the first quarter. Cetera Investment Advisers now owns 18,359,294 shares of the company’s stock valued at $781,004,000 after buying an additional 1,959,868 shares during the last quarter.

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.