Short Interest in Capital Group Global Equity ETF (NYSEARCA:CGGE) Grows By 370.2%

Capital Group Global Equity ETF (NYSEARCA:CGGE) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 740,295 shares, an increase of 370.2% from the August 15th total of 157,433 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 501,291 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGGE. CIBC Private Wealth Group LLC purchased a new stake in Capital Group Global Equity ETF in the 3rd quarter worth approximately $73,000. Western Wealth Management LLC acquired a new position in Capital Group Global Equity ETF during the first quarter worth about $73,000. Comerica Bank purchased a new stake in shares of Capital Group Global Equity ETF in the third quarter valued at approximately $82,000. Birchwood Financial Partners Inc. acquired a new stake in shares of Capital Group Global Equity ETF in the 4th quarter worth $87,000. Finally, Wealthcare Capital Partners LLC purchased a new position in Capital Group Global Equity ETF during the second quarter worth about $213,000.

Capital Group Global Equity ETF Price Performance

NYSEARCA:CGGE traded up $0.36 during trading hours on Friday, hitting $35.00. 218,339 shares of the company were exchanged, compared to its average volume of 692,955. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 24.18 and a beta of 0.80. Capital Group Global Equity ETF has a 52-week low of $29.39 and a 52-week high of $36.08. The company’s 50 day moving average price is $35.07 and its 200-day moving average price is $33.68.

Capital Group Global Equity ETF Company Profile

The Capital Group Global Equity ETF (CGGE) is an exchange-traded fund that mostly invests in total market equity. The fund seeks total returns by actively managing a portfolio of companies from around the world. CGGE was launched on Jun 25, 2024 and is issued by Capital Group.