First Trust California Municipal High Income ETF (NASDAQ:FCAL) Stock Short Interest Falls 63.2%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 10,913 shares, a decline of 63.2% from the September 30th total of 29,636 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 46,134 shares, the days-to-cover ratio is currently 0.2 days.

First Trust California Municipal High Income ETF Stock Performance

NASDAQ:FCAL traded up $0.14 during midday trading on Friday, reaching $47.67. 64,847 shares of the stock traded hands, compared to its average volume of 24,241. The business has a 50-day moving average of $47.22 and a two-hundred day moving average of $48.83. The stock has a market capitalization of $212.13 million, a PE ratio of 125.45 and a beta of 0.26. First Trust California Municipal High Income ETF has a 12-month low of $45.78 and a 12-month high of $50.13.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were paid a $0.1450 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $1.74 dividend on an annualized basis and a yield of 3.7%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 444.74%.

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

Hedge funds have recently modified their holdings of the stock. Integral Investment Advisors Inc. increased its holdings in First Trust California Municipal High Income ETF by 0.8% in the first quarter. Integral Investment Advisors Inc. now owns 32,755 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 250 shares in the last quarter. Triumph Capital Management acquired a new position in shares of First Trust California Municipal High Income ETF in the second quarter worth about $25,000. Fifth Third Bancorp purchased a new stake in shares of First Trust California Municipal High Income ETF during the 1st quarter worth about $47,000. CLG LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 15.5% during the 1st quarter. CLG LLC now owns 10,286 shares of the financial services provider’s stock worth $503,000 after acquiring an additional 1,378 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of First Trust California Municipal High Income ETF by 19.4% during the 1st quarter. D.A. Davidson & CO. now owns 9,299 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 1,511 shares in the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

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.