Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Increases By 189.6%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 33,451 shares, an increase of 189.6% from the June 15th total of 11,549 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 21,113 shares, the short-interest ratio is currently 1.6 days.

Institutional Trading of First Trust California Municipal High Income ETF

Several institutional investors and hedge funds have recently modified their holdings of FCAL. Fifth Third Bancorp purchased a new stake in shares of First Trust California Municipal High Income ETF in the first quarter valued at approximately $47,000. Comerica Bank purchased a new position in First Trust California Municipal High Income ETF during the 3rd quarter worth $48,000. Arax Advisory Partners bought a new stake in First Trust California Municipal High Income ETF during the 4th quarter valued at $59,000. Kestra Advisory Services LLC bought a new stake in First Trust California Municipal High Income ETF during the 4th quarter valued at $70,000. Finally, Rossby Financial LCC purchased a new stake in shares of First Trust California Municipal High Income ETF in the 4th quarter worth $146,000. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Down 0.0%

FCAL stock traded down $0.02 during trading on Monday, hitting $49.48. The company had a trading volume of 8,306 shares, compared to its average volume of 20,508. The firm has a market capitalization of $222.66 million, a P/E ratio of 130.21 and a beta of 0.25. First Trust California Municipal High Income ETF has a 52-week low of $47.35 and a 52-week high of $50.13. The company has a 50 day simple moving average of $49.43 and a 200-day simple moving average of $49.46.

First Trust California Municipal High Income ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a $0.143 dividend. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, June 25th. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 434.21%.

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.