First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Down 51.1% in May

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 12,380 shares, a drop of 51.1% from the May 14th total of 25,326 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 31,549 shares, the short-interest ratio is presently 0.4 days.

First Trust California Municipal High Income ETF Stock Performance

FCAL traded down $0.01 during mid-day trading on Friday, reaching $49.49. The stock had a trading volume of 22,561 shares, compared to its average volume of 21,079. The stock has a market capitalization of $210.33 million, a P/E ratio of 130.24 and a beta of 0.26. The firm’s fifty day simple moving average is $49.32 and its two-hundred day simple moving average is $49.41. First Trust California Municipal High Income ETF has a 52 week low of $47.35 and a 52 week high of $50.13.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were paid a $0.143 dividend. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is currently 431.58%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Koshinski Asset Management Inc. acquired a new position in shares of First Trust California Municipal High Income ETF in the 3rd quarter valued at $545,000. Channel Wealth LLC lifted its stake in shares of First Trust California Municipal High Income ETF by 56.0% in the 4th quarter. Channel Wealth LLC now owns 34,509 shares of the financial services provider’s stock valued at $1,702,000 after purchasing an additional 12,393 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of First Trust California Municipal High Income ETF by 150.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 18,128 shares of the financial services provider’s stock valued at $894,000 after purchasing an additional 10,903 shares during the period. WCG Wealth Advisors LLC acquired a new position in shares of First Trust California Municipal High Income ETF in the 4th quarter valued at $531,000. Finally, Climber Capital SA acquired a new position in shares of First Trust California Municipal High Income ETF in the 4th quarter valued at $721,000. Institutional investors and hedge funds own 54.39% of the company’s stock.

About First Trust California Municipal High Income ETF

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.