Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Increases By 51.2%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 70,000 shares, an increase of 51.2% from the May 15th total of 46,300 shares. Based on an average daily trading volume, of 25,100 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in First Trust California Municipal High Income ETF by 34.3% during the first quarter. Cetera Investment Advisers now owns 36,476 shares of the financial services provider’s stock valued at $1,811,000 after purchasing an additional 9,314 shares during the period. New Insight Wealth Advisors grew its holdings in First Trust California Municipal High Income ETF by 62.2% during the first quarter. New Insight Wealth Advisors now owns 19,623 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 7,528 shares during the period. Avantax Advisory Services Inc. acquired a new position in First Trust California Municipal High Income ETF during the first quarter valued at approximately $245,000. Mutual Advisors LLC grew its holdings in First Trust California Municipal High Income ETF by 2.1% during the first quarter. Mutual Advisors LLC now owns 29,550 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 620 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of First Trust California Municipal High Income ETF by 79.4% in the first quarter. Commonwealth Equity Services LLC now owns 17,426 shares of the financial services provider’s stock valued at $865,000 after buying an additional 7,713 shares during the period. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Trading Up 0.1 %

Shares of FCAL traded up $0.05 on Friday, reaching $49.71. 2,514 shares of the company’s stock were exchanged, compared to its average volume of 27,321. The stock has a market capitalization of $218.72 million, a P/E ratio of 130.82 and a beta of 0.15. The business has a 50 day moving average price of $49.26 and a two-hundred day moving average price of $49.53. First Trust California Municipal High Income ETF has a 12 month low of $46.30 and a 12 month high of $51.97.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were paid a dividend of $0.121 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Tuesday, May 21st. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 368.42%.

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.