First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Update

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 12,018 shares, a decline of 52.9% from the February 12th total of 25,508 shares. Based on an average daily trading volume, of 16,322 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 16,322 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of First Trust California Municipal High Income ETF

Several hedge funds have recently made changes to their positions in FCAL. Royal Bank of Canada grew its holdings in shares of First Trust California Municipal High Income ETF by 2.4% in the first quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock valued at $6,321,000 after purchasing an additional 3,039 shares in the last quarter. Cetera Investment Advisers lifted its holdings in First Trust California Municipal High Income ETF by 17.7% during the 2nd quarter. Cetera Investment Advisers now owns 65,904 shares of the financial services provider’s stock worth $3,161,000 after buying an additional 9,904 shares in the last quarter. Inspire Advisors LLC acquired a new stake in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $239,000. Diversified Portfolios Inc. purchased a new position in First Trust California Municipal High Income ETF in the 2nd quarter valued at approximately $210,000. Finally, Perennial Investment Advisors LLC boosted its position in First Trust California Municipal High Income ETF by 31.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 8,928 shares of the financial services provider’s stock valued at $428,000 after buying an additional 2,136 shares during the period. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Price Performance

Shares of FCAL stock traded up $0.27 on Friday, hitting $49.48. The stock had a trading volume of 16,475 shares, compared to its average volume of 19,675. The company’s 50 day moving average price is $49.68 and its 200-day moving average price is $49.25. First Trust California Municipal High Income ETF has a 1 year low of $46.44 and a 1 year high of $50.13. The firm has a market capitalization of $205.34 million, a P/E ratio of 130.21 and a beta of 0.25.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a $0.141 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) annualized dividend and a yield of 3.4%. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 423.68%.

First Trust California Municipal High Income ETF Company Profile

First California Financial Group, Inc is a bank holding company for its wholly owned subsidiary First California Bank (the Bank). The Bank is a full-service commercial bank. The Bank’s operations are primarily located within the areas commonly known as the 101 corridor stretching from the City of Ventura to Calabasas, California, the Moorpark-Simi Valley corridor, the western San Fernando Valley, the Tri-Cities area of Glendale-Burbank-Pasadena, the South Bay, the Inland Empire, north San Diego County, Century City and other parts of Los Angeles, Orange San Luis Obispo and Ventura Counties in Southern California.