Capital Group Dividend Value ETF (NYSEARCA:CGDV) Sets New 12-Month High – Here’s Why

Capital Group Dividend Value ETF (NYSEARCA:CGDV)’s stock price reached a new 52-week high on Friday . The company traded as high as $49.49 and last traded at $49.38, with a volume of 1566351 shares trading hands. The stock had previously closed at $49.14.

Capital Group Dividend Value ETF Trading Up 0.6%

The firm has a market cap of $36.64 billion, a P/E ratio of 26.59 and a beta of 0.88. The company’s 50 day simple moving average is $48.24 and its 200-day simple moving average is $45.81.

Institutional Trading of Capital Group Dividend Value ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGDV. AQR Capital Management LLC bought a new position in Capital Group Dividend Value ETF in the 1st quarter worth $236,000. Franklin Resources Inc. purchased a new stake in shares of Capital Group Dividend Value ETF during the 2nd quarter worth approximately $226,000. Russell Investments Group Ltd. lifted its position in Capital Group Dividend Value ETF by 24.9% during the second quarter. Russell Investments Group Ltd. now owns 4,638 shares of the company’s stock valued at $183,000 after purchasing an additional 925 shares during the last quarter. Brown Advisory Inc. grew its position in Capital Group Dividend Value ETF by 22.7% in the second quarter. Brown Advisory Inc. now owns 22,270 shares of the company’s stock worth $879,000 after acquiring an additional 4,118 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Capital Group Dividend Value ETF by 21.1% during the second quarter. Sei Investments Co. now owns 1,169,992 shares of the company’s stock worth $46,203,000 after buying an additional 203,772 shares during the period.

About Capital Group Dividend Value ETF

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.