Magnus Financial Group LLC Sells 48,020 Shares of First Trust California Municipal High Income ETF $FCAL

Magnus Financial Group LLC decreased its position in shares of First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 51.4% during the third quarter, Holdings Channel.com reports. The firm owned 45,414 shares of the financial services provider’s stock after selling 48,020 shares during the period. Magnus Financial Group LLC’s holdings in First Trust California Municipal High Income ETF were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Smith Chas P & Associates PA Cpas acquired a new position in shares of First Trust California Municipal High Income ETF in the 2nd quarter valued at $117,872,000. NewEdge Advisors LLC grew its position in First Trust California Municipal High Income ETF by 31,414.1% during the second quarter. NewEdge Advisors LLC now owns 2,275,951 shares of the financial services provider’s stock valued at $113,006,000 after buying an additional 2,268,729 shares during the period. Envestnet Asset Management Inc. grew its position in First Trust California Municipal High Income ETF by 31,398.2% during the second quarter. Envestnet Asset Management Inc. now owns 1,700,588 shares of the financial services provider’s stock valued at $84,438,000 after buying an additional 1,695,189 shares during the period. Baird Financial Group Inc. purchased a new position in First Trust California Municipal High Income ETF in the second quarter valued at $23,377,000. Finally, Citizens Business Bank purchased a new position in First Trust California Municipal High Income ETF in the first quarter valued at $5,809,000. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Stock Performance

Shares of First Trust California Municipal High Income ETF stock opened at $46.79 on Thursday. The firm has a 50-day simple moving average of $47.39 and a two-hundred day simple moving average of $48.62. The company has a market cap of $210.56 million, a P/E ratio of 123.13 and a beta of 0.26. First Trust California Municipal High Income ETF has a fifty-two week low of $45.78 and a fifty-two week high of $50.13.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 21st will be given a dividend of $0.1450 per share. The ex-dividend date is Wednesday, October 21st. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.7%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 442.11%.

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.