The Capital Group International Bond ETF (USD-Hedged) (CGIB) experienced a dramatic reduction in short interest throughout February. As of February 13, short interest totaled 4,881 shares, marking an astounding decline of 89.0% from the 44,358 shares reported on January 29. This downturn indicates that only 0.1% of the fund”s stock is currently sold short.
In terms of trading performance, CGIB saw a slight increase of $0.01, trading at $25.72 during mid-day on Thursday. The trading volume stood at 67,424 shares, which is lower than its average volume of 89,639 shares. The fund”s 50-day moving average is positioned at $25.48, while the 200-day moving average is at $25.43. Notably, the ETF has recorded a fifty-two week low of $25.04 and a high of $27.23.
In a related financial update, the company announced a reduction in its monthly dividend, which was distributed on February 2. Shareholders of record as of January 30 received a dividend of $0.025, which equates to an annualized yield of 1.2%. The ex-dividend date was also January 30.
For investors and market observers, this substantial drop in short interest may indicate a shift in sentiment regarding the Capital Group International Bond ETF. The fund primarily invests in a diverse array of global debt securities, aiming for a high level of current income and capital preservation.
The Capital Group International Bond ETF (USD-Hedged), launched on June 25, 2024, is designed to appeal to those seeking stability in their investment portfolios through broad credit fixed income. As hedge funds reassess their positions, the implications for CGIB and its future performance are worth closely monitoring.
