Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) Hits New 52-Week High – Time to Buy?

Shares of Capital Group Global Growth Equity ETF (NYSEARCA:CGGO) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.75 and last traded at $30.74, with a volume of 783285 shares. The stock had previously closed at $30.51.

Capital Group Global Growth Equity ETF Trading Up 0.8 %

The company has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $29.64. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 26.27 and a beta of 1.02.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CGGO. Janney Montgomery Scott LLC acquired a new position in shares of Capital Group Global Growth Equity ETF during the 4th quarter worth about $25,973,000. LPL Financial LLC increased its position in shares of Capital Group Global Growth Equity ETF by 15.2% during the 3rd quarter. LPL Financial LLC now owns 5,536,840 shares of the company’s stock worth $166,936,000 after purchasing an additional 732,035 shares during the last quarter. Raymond James & Associates raised its stake in shares of Capital Group Global Growth Equity ETF by 12.3% during the 3rd quarter. Raymond James & Associates now owns 6,504,689 shares of the company’s stock worth $196,116,000 after purchasing an additional 710,291 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Capital Group Global Growth Equity ETF in the 2nd quarter valued at approximately $18,559,000. Finally, Cetera Investment Advisers grew its stake in shares of Capital Group Global Growth Equity ETF by 47.6% in the second quarter. Cetera Investment Advisers now owns 1,771,095 shares of the company’s stock valued at $52,141,000 after buying an additional 571,019 shares in the last quarter.

Capital Group Global Growth Equity ETF Company Profile

The Capital Group Global Growth Equity ETF (CGGO) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests in US and non-US companies of any market capitalization with growth potential. CGGO was launched on Feb 22, 2022 and is managed by Capital Group.