Capital Group Short Duration Municipal Income ETF $CGSM Stake Increased by Burton Enright Welch

Burton Enright Welch lifted its stake in shares of Capital Group Short Duration Municipal Income ETF (NYSEARCA:CGSM) by 74.3% in the third quarter, HoldingsChannel.com reports. The fund owned 76,917 shares of the company’s stock after acquiring an additional 32,793 shares during the quarter. Burton Enright Welch’s holdings in Capital Group Short Duration Municipal Income ETF were worth $1,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Capital Group Short Duration Municipal Income ETF by 7.6% in the second quarter. Envestnet Asset Management Inc. now owns 3,150,448 shares of the company’s stock worth $83,125,000 after acquiring an additional 221,888 shares in the last quarter. Cetera Investment Advisers increased its stake in Capital Group Short Duration Municipal Income ETF by 41.1% in the first quarter. Cetera Investment Advisers now owns 989,257 shares of the company’s stock valued at $25,998,000 after acquiring an additional 288,245 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in Capital Group Short Duration Municipal Income ETF during the third quarter valued at about $13,358,000. Kestra Advisory Services LLC raised its position in Capital Group Short Duration Municipal Income ETF by 15.4% during the third quarter. Kestra Advisory Services LLC now owns 416,192 shares of the company’s stock valued at $10,700,000 after purchasing an additional 55,535 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Capital Group Short Duration Municipal Income ETF by 85.2% during the first quarter. Royal Bank of Canada now owns 326,116 shares of the company’s stock valued at $8,570,000 after purchasing an additional 150,064 shares in the last quarter.

Capital Group Short Duration Municipal Income ETF Price Performance

Shares of CGSM stock opened at $26.25 on Monday. The business has a 50-day moving average price of $26.01 and a two-hundred day moving average price of $26.30. Capital Group Short Duration Municipal Income ETF has a 12-month low of $25.59 and a 12-month high of $26.68.

Capital Group Short Duration Municipal Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were given a dividend of $0.0635 per share. This is a drop from Capital Group Short Duration Municipal Income ETF’s previous monthly dividend of $0.0640. The ex-dividend date was Friday, October 30th. This represents a $0.76 annualized dividend and a dividend yield of 2.9%.

Capital Group Short Duration Municipal Income ETF Company Profile

The Capital Group Short Duration Municipal Income ETF (CGSM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund actively manages a portfolio of US municipal bonds exempt from regular federal income tax. The portfolio is mostly comprised of investment grade debts and the average portfolio duration is expected to be one year. CGSM was launched on Sep 26, 2023 and is issued by Capital Group.