Short Interest in Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Drops By 63.0%

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 37,003 shares, a drop of 63.0% from the August 15th total of 99,916 shares. Based on an average daily volume of 1,469,497 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Capital Group U.S. Multi-Sector Income ETF Stock Performance

Shares of CGMS remained flat at $26.81 during trading on Friday. The company’s stock had a trading volume of 994,825 shares, compared to its average volume of 1,042,734. The business’s fifty day moving average price is $27.14 and its two-hundred day moving average price is $27.35. Capital Group U.S. Multi-Sector Income ETF has a one year low of $26.80 and a one year high of $28.08. The company has a market cap of $5.27 billion, a P/E ratio of 10.71 and a beta of 0.29.

Capital Group U.S. Multi-Sector Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 31st were issued a $0.1595 dividend. This is a boost from Capital Group U.S. Multi-Sector Income ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Friday, July 31st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CGMS. Arax Advisory Partners bought a new stake in shares of Capital Group U.S. Multi-Sector Income ETF in the 4th quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the fourth quarter worth about $53,000. CX Institutional bought a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the second quarter worth about $68,000. Advisory Services Network LLC acquired a new position in Capital Group U.S. Multi-Sector Income ETF in the third quarter worth about $102,000. Finally, IFP Advisors Inc grew its stake in Capital Group U.S. Multi-Sector Income ETF by 14.8% in the fourth quarter. IFP Advisors Inc now owns 4,306 shares of the company’s stock worth $119,000 after purchasing an additional 555 shares in the last quarter.

Capital Group U.S. Multi-Sector Income ETF Company Profile

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.