First Trust California Municipal High Income ETF (NASDAQ:FCAL) Sees Significant Increase in Short Interest

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 33,451 shares, a growth of 189.6% from the June 15th total of 11,549 shares. Based on an average trading volume of 21,113 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On First Trust California Municipal High Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its position in shares of First Trust California Municipal High Income ETF by 2.6% in the fourth quarter. LPL Financial LLC now owns 872,810 shares of the financial services provider’s stock valued at $43,036,000 after buying an additional 22,277 shares during the last quarter. NewEdge Advisors LLC boosted its position in First Trust California Municipal High Income ETF by 4,304.3% during the fourth quarter. NewEdge Advisors LLC now owns 314,073 shares of the financial services provider’s stock worth $15,486,000 after acquiring an additional 306,942 shares during the last quarter. Royal Bank of Canada grew its stake in First Trust California Municipal High Income ETF by 2.4% during the 1st quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock valued at $6,321,000 after acquiring an additional 3,039 shares in the last quarter. Citizens Business Bank purchased a new stake in First Trust California Municipal High Income ETF during the 1st quarter valued at about $5,809,000. Finally, Jane Street Group LLC grew its stake in First Trust California Municipal High Income ETF by 171.0% during the 2nd quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock valued at $4,267,000 after acquiring an additional 56,132 shares in the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ:FCAL traded up $0.03 during trading on Tuesday, reaching $49.50. The stock had a trading volume of 8,840 shares, compared to its average volume of 20,419. The business has a fifty day moving average price of $49.43 and a 200-day moving average price of $49.46. The stock has a market cap of $222.75 million, a PE ratio of 130.26 and a beta of 0.25. First Trust California Municipal High Income ETF has a 1-year low of $47.35 and a 1-year high of $50.13.

First Trust California Municipal High Income ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a $0.143 dividend. The ex-dividend date was Thursday, June 25th. This represents a c) dividend on an annualized basis and a yield of 3.5%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 434.21%.

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.