Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Reaches New 12-Month Low – Should You Sell?

Shares of Capital Group Core Plus Income ETF (NYSEARCA:CGCP) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $21.27 and last traded at $21.32, with a volume of 1964084 shares trading hands. The stock had previously closed at $21.43.

Capital Group Core Plus Income ETF Trading Down 0.1%

The firm’s fifty day moving average price is $21.86 and its 200-day moving average price is $22.17. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 10.69 and a beta of 0.32.

Capital Group Core Plus Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 29th were paid a $0.0925 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This is a positive change from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.0868. This represents a $1.11 dividend on an annualized basis and a yield of 5.2%.

Institutional Investors Weigh In On Capital Group Core Plus Income ETF

Large investors have recently modified their holdings of the business. Midwest Heritage Bank FSB grew its position in shares of Capital Group Core Plus Income ETF by 22.4% in the 1st quarter. Midwest Heritage Bank FSB now owns 1,326,985 shares of the company’s stock valued at $29,645,000 after purchasing an additional 242,411 shares during the period. Core Wealth Partners LLC increased its stake in Capital Group Core Plus Income ETF by 11.3% during the 4th quarter. Core Wealth Partners LLC now owns 272,517 shares of the company’s stock worth $6,170,000 after purchasing an additional 27,646 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in Capital Group Core Plus Income ETF during the 4th quarter worth approximately $17,236,000. Swisher Financial Concepts Inc. raised its holdings in Capital Group Core Plus Income ETF by 11.0% during the 1st quarter. Swisher Financial Concepts Inc. now owns 322,053 shares of the company’s stock worth $7,195,000 after buying an additional 32,017 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Capital Group Core Plus Income ETF in the first quarter valued at approximately $602,000.

Capital Group Core Plus Income ETF Company Profile

The Capital Group Core Plus Income ETF (CGCP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in bonds and other debt securities issued by corporate and government entities from around the globe, with no limitations regarding credit ratings and maturities. CGCP was launched on Feb 22, 2022 and is managed by Capital Group.