Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Decreases By 41.6%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 23,353 shares, a decline of 41.6% from the July 30th total of 40,002 shares. Based on an average daily volume of 20,021 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On First Trust California Municipal High Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in FCAL. LPL Financial LLC grew its holdings 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 worth $43,036,000 after purchasing an additional 22,277 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in First Trust California Municipal High Income ETF by 4,304.3% during the 4th quarter. NewEdge Advisors LLC now owns 314,073 shares of the financial services provider’s stock valued at $15,486,000 after buying an additional 306,942 shares in the last quarter. Royal Bank of Canada boosted its position in First Trust California Municipal High Income ETF by 2.4% in 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 buying an additional 3,039 shares during the period. Citizens Business Bank purchased a new stake in First Trust California Municipal High Income ETF in 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% in the 2nd quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock worth $4,267,000 after acquiring an additional 56,132 shares in the last quarter. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Stock Down 0.4%

NASDAQ:FCAL traded down $0.21 on Tuesday, reaching $48.03. 47,683 shares of the company’s stock traded hands, compared to its average volume of 19,971. First Trust California Municipal High Income ETF has a 12 month low of $47.65 and a 12 month high of $50.13. The stock has a 50-day simple moving average of $49.05 and a 200-day simple moving average of $49.29. The firm has a market cap of $216.13 million, a PE ratio of 126.39 and a beta of 0.25.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were issued a dividend of $0.144 per share. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 3.6%. First Trust California Municipal High Income ETF’s payout ratio is currently 439.47%.

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.