Cornerstone Wealth Management LLC Increases Stake in Capital Group Dividend Value ETF

Cornerstone Wealth Management LLC has significantly increased its investment in the Capital Group Dividend Value ETF (NYSEARCA:CGDV), with a reported stake of $482,000 at the end of the third quarter. This represents a remarkable increase of 98.1% from previous holdings as detailed in its recent filing with the Securities and Exchange Commission (SEC). Following additional purchases, Cornerstone Wealth now owns 13,217 shares of the ETF, after acquiring 6,544 shares during the quarter.

Other institutional investors have also adjusted their positions in the Capital Group Dividend Value ETF. For instance, LPL Financial LLC raised its stake by 15.6% during the second quarter, acquiring a total of 12,753,940 shares valued at $420,880,000 after purchasing an additional 1,722,366 shares. Similarly, Advance Capital Management Inc. increased its holdings by 18.5% in the third quarter, and now owns 10,786,079 shares worth approximately $393,045,000 after its latest purchase of 1,686,328 shares.

Moreover, Raymond James Financial Services Advisors Inc. expanded its investment by 6.1% in the second quarter, now holding 9,000,947 shares valued at $297,031,000 after a purchase of 519,112 additional shares. Northwestern Mutual Wealth Management Co. also boosted its position by 7.7% in the same period, acquiring additional shares to reach a total of 8,864,888 shares worth about $292,541,000. Finally, Envestnet Asset Management Inc. raised its stake in the ETF by 15.0% during the second quarter, resulting in ownership of 8,007,181 shares valued at approximately $264,237,000.

Capital Group Dividend Value ETF Overview

The Capital Group Dividend Value ETF focuses on investing in the total market equity and is actively managed. This fund primarily targets stocks of large- and mid-cap US companies that pay dividends, aiming to generate income that surpasses the average yield of US stocks.

Stock Performance

Currently, shares of the Capital Group Dividend Value ETF are trading at $37.02, reflecting a slight increase of 0.2%. The fund has a market capitalization of $8.44 billion, a price-to-earnings ratio of 22.38, and a beta of 0.92. Over the past year, shares have seen a low of $25.47 and a high of $37.17, with moving averages of $35.75 and $33.97 over the last 50 and 200 days, respectively.

Conclusion

The strategic moves by Cornerstone Wealth Management LLC and other institutional investors signify a growing interest in the Capital Group Dividend Value ETF as a robust investment choice.

investment, ETF, dividends