Capital Group Dividend Value ETF (NYSEARCA:CGDV) Hits New 12-Month High – Should You Buy?

Shares of Capital Group Dividend Value ETF (NYSEARCA:CGDV) hit a new 52-week high on Wednesday . The company traded as high as $37.28 and last traded at $37.24, with a volume of 2548518 shares changing hands. The stock had previously closed at $37.13.

Capital Group Dividend Value ETF Stock Up 0.3 %

The firm’s 50 day simple moving average is $36.09 and its 200-day simple moving average is $35.93. The company has a market capitalization of $8.49 billion, a PE ratio of 22.38 and a beta of 0.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGDV. LPL Financial LLC grew its stake in shares of Capital Group Dividend Value ETF by 36.0% in the fourth quarter. LPL Financial LLC now owns 21,983,627 shares of the company’s stock valued at $775,143,000 after buying an additional 5,814,581 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Capital Group Dividend Value ETF in the 4th quarter worth approximately $601,244,000. Advance Capital Management Inc. grew its position in Capital Group Dividend Value ETF by 0.4% in the fourth quarter. Advance Capital Management Inc. now owns 10,826,570 shares of the company’s stock valued at $381,745,000 after acquiring an additional 40,491 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Capital Group Dividend Value ETF by 14.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,065,081 shares of the company’s stock valued at $284,375,000 after purchasing an additional 1,008,536 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Capital Group Dividend Value ETF by 19.9% during the third quarter. Raymond James & Associates now owns 6,654,717 shares of the company’s stock valued at $242,498,000 after purchasing an additional 1,104,402 shares during the period.

About Capital Group Dividend Value ETF

The Capital Group Dividend Value ETF (CGDV) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that primarily invests in stocks of dividend-paying, large- and mid-cap US companies. The fund seeks to produce income exceeding the average yield on US stocks.