First Trust California Municipal High Income ETF (NASDAQ:FCAL) Sees Significant Decrease in Short Interest

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

First Trust California Municipal High Income ETF Stock Up 0.1 %

NASDAQ FCAL traded up $0.06 during midday trading on Thursday, hitting $50.29. The company had a trading volume of 6,183 shares, compared to its average volume of 25,171. The firm has a fifty day simple moving average of $49.88 and a two-hundred day simple moving average of $49.60. First Trust California Municipal High Income ETF has a fifty-two week low of $46.30 and a fifty-two week high of $51.97. The stock has a market cap of $248.94 million, a price-to-earnings ratio of 132.45 and a beta of 0.15.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were given a dividend of $0.1235 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.12. This represents a $1.48 dividend on an annualized basis and a yield of 2.95%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 376.32%.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in First Trust California Municipal High Income ETF in the 2nd quarter valued at $35,000. Larson Financial Group LLC bought a new stake in First Trust California Municipal High Income ETF in the second quarter valued at about $45,000. Private Advisor Group LLC acquired a new position in First Trust California Municipal High Income ETF in the fourth quarter worth about $205,000. Avantax Advisory Services Inc. bought a new position in First Trust California Municipal High Income ETF during the first quarter worth about $245,000. Finally, EP Wealth Advisors LLC acquired a new stake in First Trust California Municipal High Income ETF during the fourth quarter valued at approximately $308,000. 54.39% of the stock is currently owned by institutional investors.

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.