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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 5,500 shares, a decline of 88.2% from the August 15th total of 46,800 shares. Based on an average daily volume of 24,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of First Trust California Municipal High Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FCAL. Cetera Investment Advisers boosted its holdings in First Trust California Municipal High Income ETF by 17.4% in the second quarter. Cetera Investment Advisers now owns 42,826 shares of the financial services provider’s stock valued at $2,121,000 after purchasing an additional 6,350 shares during the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 4.0% in the second quarter. Perennial Investment Advisors LLC now owns 6,526 shares of the financial services provider’s stock worth $323,000 after buying an additional 250 shares during the last quarter. LPL Financial LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 14.2% in the second quarter. LPL Financial LLC now owns 664,470 shares of the financial services provider’s stock worth $32,905,000 after buying an additional 82,860 shares during the last quarter. Larson Financial Group LLC acquired a new stake in First Trust California Municipal High Income ETF during the second quarter worth about $45,000. Finally, Commonwealth Equity Services LLC raised its position in First Trust California Municipal High Income ETF by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,395 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 969 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

NASDAQ FCAL traded down $0.03 during trading hours on Friday, reaching $50.26. The stock had a trading volume of 24,725 shares, compared to its average volume of 25,169. First Trust California Municipal High Income ETF has a 52-week low of $46.30 and a 52-week high of $51.97. The stock has a fifty day moving average of $49.89 and a 200 day moving average of $49.61. The stock has a market cap of $248.76 million, a P/E ratio of 132.05 and a beta of 0.15.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were issued a $0.1235 dividend. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.12. This represents a $1.48 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is 376.32%.

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.