NewEdge Advisors LLC Raises Position in First Trust California Municipal High Income ETF $FCAL

NewEdge Advisors LLC grew its stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 31,414.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,275,951 shares of the financial services provider’s stock after purchasing an additional 2,268,729 shares during the quarter. NewEdge Advisors LLC owned approximately 50.58% of First Trust California Municipal High Income ETF worth $113,006,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Baird Financial Group Inc. bought a new stake in First Trust California Municipal High Income ETF during the second quarter worth $23,377,000. Citizens Business Bank bought a new position in First Trust California Municipal High Income ETF during the 1st quarter valued at $5,809,000. Jane Street Group LLC boosted its holdings 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 worth $4,267,000 after acquiring an additional 56,132 shares during the last quarter. Compass Financial Management LLC purchased a new position in First Trust California Municipal High Income ETF during the 2nd quarter worth $2,556,000. Finally, Beacon Financial Advisory LLC purchased a new position in First Trust California Municipal High Income ETF during the 2nd quarter worth $2,453,000. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Price Performance

NASDAQ FCAL opened at $47.87 on Wednesday. The company has a fifty day moving average price of $48.85 and a 200-day moving average price of $49.21. The firm has a market cap of $215.41 million, a price-to-earnings ratio of 125.97 and a beta of 0.25. First Trust California Municipal High Income ETF has a 1 year low of $47.84 and a 1 year high of $50.13.

First Trust California Municipal High Income ETF Increases Dividend

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

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.