Freedom Financial Partners LLC has taken a significant position in the Capital Group International Equity ETF (NYSEARCA:CGIE). During the third quarter of 2023, the institutional investor acquired 277,048 shares valued at approximately $9.34 million. This investment now constitutes 3.6% of Freedom Financial’s overall portfolio, making CGIE its ninth largest holding.
Several other hedge funds have also adjusted their positions in CGIE recently. Notably, Lincoln Capital LLC increased its stake by 4.3% in the second quarter, bringing its total to 12,127 shares, worth about $399,000. Rothschild Investment LLC made a more substantial move, boosting its position by 34.3%, now owning 2,350 shares valued at $77,000. NewEdge Advisors LLC raised its stake by 42.2%, owning 2,158 shares after purchasing an additional 640 shares, worth $71,000.
Harbour Investments Inc. also added to its holdings, increasing its position by 5.5% to 12,442 shares, valued at $410,000. Meanwhile, CWM LLC reported the most significant growth, expanding its position by 88.2% in the third quarter, now holding 1,451 shares worth approximately $49,000.
Stock Performance and Market Overview
As of the latest trading session, the Capital Group International Equity ETF opened at $34.96. The stock has experienced a twelve-month low of $26.10 and a high of $35.11. With a market capitalization of $1.23 billion, CGIE has a price-to-earnings ratio of 20.85 and a beta of 0.62. The fund’s 50-day and 200-day simple moving averages stand at $34.37 and $33.56, respectively.
About Capital Group International Equity ETF
Launched on September 26, 2023, the Capital Group International Equity ETF is actively managed and primarily invests in the equities of non-U.S. companies. The fund’s objective is to identify stocks with strong growth potential, focusing on a comprehensive market strategy.
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