Capital Group Core Plus Income ETF (NYSEARCA:CGCP) Sees Large Drop in Short Interest
by Teresa Graham · The Cerbat GemCapital Group Core Plus Income ETF (NYSEARCA:CGCP – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 188,249 shares, a drop of 40.6% from the August 15th total of 316,785 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,489,554 shares, the short-interest ratio is presently 0.1 days.
Hedge Funds Weigh In On Capital Group Core Plus Income ETF
Institutional investors have recently modified their holdings of the company. Capital International Investors increased its holdings in shares of Capital Group Core Plus Income ETF by 24.7% during the 4th quarter. Capital International Investors now owns 41,266,604 shares of the company’s stock worth $934,276,000 after buying an additional 8,184,599 shares during the last quarter. LPL Financial LLC boosted its holdings in Capital Group Core Plus Income ETF by 25.1% in the fourth quarter. LPL Financial LLC now owns 23,722,685 shares of the company’s stock valued at $537,082,000 after acquiring an additional 4,757,976 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Capital Group Core Plus Income ETF by 12.5% in the first quarter. Cetera Investment Advisers now owns 7,319,089 shares of the company’s stock valued at $163,508,000 after acquiring an additional 814,939 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Capital Group Core Plus Income ETF by 9.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,749,143 shares of the company’s stock valued at $130,161,000 after acquiring an additional 506,129 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Capital Group Core Plus Income ETF by 11.8% during the first quarter. Janney Montgomery Scott LLC now owns 4,915,821 shares of the company’s stock valued at $109,819,000 after acquiring an additional 520,461 shares during the period.
Capital Group Core Plus Income ETF Stock Performance
Capital Group Core Plus Income ETF stock traded down $0.10 during midday trading on Friday, reaching $21.64. 441,282 shares of the company were exchanged, compared to its average volume of 1,607,905. The firm’s 50-day simple moving average is $21.98 and its 200-day simple moving average is $22.24. Capital Group Core Plus Income ETF has a 1 year low of $21.59 and a 1 year high of $23.00. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 10.69 and a beta of 0.32.
Capital Group Core Plus Income ETF Increases Dividend
The company also recently declared a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 31st were paid a dividend of $0.1074 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.0%. This is an increase from Capital Group Core Plus Income ETF’s previous monthly dividend of $0.08.
About Capital Group Core Plus Income ETF
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.