Capital Group Growth ETF (NYSEARCA:CGGR) Sets New 12-Month High – Should You Buy?

Capital Group Growth ETF (NYSEARCA:CGGR) hit a new 52-week high on Monday . The stock traded as high as $38.00 and last traded at $38.00, with a volume of 29327 shares trading hands. The stock had previously closed at $37.72.

Capital Group Growth ETF Trading Up 0.6 %

The company’s 50-day moving average is $35.86 and its two-hundred day moving average is $33.85. The firm has a market cap of $6.46 billion, a P/E ratio of 28.99 and a beta of 1.22.

Institutional Investors Weigh In On Capital Group Growth ETF

A number of hedge funds have recently modified their holdings of CGGR. LPL Financial LLC raised its holdings in Capital Group Growth ETF by 24.6% during the 3rd quarter. LPL Financial LLC now owns 12,438,170 shares of the company’s stock valued at $432,724,000 after acquiring an additional 2,456,913 shares during the period. Commonwealth Equity Services LLC raised its holdings in Capital Group Growth ETF by 4.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,323,101 shares of the company’s stock valued at $324,351,000 after acquiring an additional 359,838 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Capital Group Growth ETF by 3.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,771,174 shares of the company’s stock valued at $189,814,000 after acquiring an additional 194,550 shares during the period. Envestnet Asset Management Inc. raised its holdings in Capital Group Growth ETF by 27.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,077,593 shares of the company’s stock valued at $167,002,000 after acquiring an additional 1,099,783 shares during the period. Finally, Raymond James & Associates raised its holdings in Capital Group Growth ETF by 15.3% during the 3rd quarter. Raymond James & Associates now owns 3,895,362 shares of the company’s stock valued at $135,520,000 after acquiring an additional 517,412 shares during the period.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.