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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 9,665 shares, a decrease of 19.6% from the February 26th total of 12,018 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 22,637 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Comerica Bank acquired a new position in shares of First Trust California Municipal High Income ETF in the 3rd quarter worth approximately $48,000. Arax Advisory Partners acquired a new position in First Trust California Municipal High Income ETF during the 4th quarter worth $59,000. Kestra Advisory Services LLC purchased a new stake in shares of First Trust California Municipal High Income ETF during the fourth quarter worth approximately $70,000. Rossby Financial LCC purchased a new stake in shares of First Trust California Municipal High Income ETF in the 4th quarter valued at approximately $146,000. Finally, Allworth Financial LP raised its stake in First Trust California Municipal High Income ETF by 118.8% in the fourth quarter. Allworth Financial LP now owns 3,020 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Trading Up 0.4%

FCAL stock traded up $0.21 during midday trading on Wednesday, hitting $49.10. 26,201 shares of the company’s stock were exchanged, compared to its average volume of 19,523. First Trust California Municipal High Income ETF has a 1-year low of $46.44 and a 1-year high of $50.13. The stock has a market capitalization of $203.77 million, a PE ratio of 129.21 and a beta of 0.25. The business has a 50-day simple moving average of $49.56 and a two-hundred day simple moving average of $49.35.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.141 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, March 26th. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 426.32%.

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.