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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 12,380 shares, a drop of 51.1% from the May 14th total of 25,326 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 31,549 shares, the days-to-cover ratio is presently 0.4 days.

First Trust California Municipal High Income ETF Price Performance

NASDAQ:FCAL opened at $49.49 on Friday. The firm has a market capitalization of $210.33 million, a price-to-earnings ratio of 130.24 and a beta of 0.26. First Trust California Municipal High Income ETF has a one year low of $47.35 and a one year high of $50.13. The business has a fifty day moving average price of $49.32 and a 200-day moving average price of $49.41.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were issued a $0.143 dividend. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, May 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 431.58%.

Institutional Trading of First Trust California Municipal High Income ETF

Institutional investors have recently modified their holdings of the company. Compound Planning Inc. grew its position in shares of First Trust California Municipal High Income ETF by 4.1% in the 1st quarter. Compound Planning Inc. now owns 43,679 shares of the financial services provider’s stock worth $2,135,000 after buying an additional 1,726 shares during the last quarter. CLG LLC raised 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. Cetera Investment Advisers lifted its position in First Trust California Municipal High Income ETF by 8.5% during the first quarter. Cetera Investment Advisers now owns 86,321 shares of the financial services provider’s stock valued at $4,220,000 after acquiring an additional 6,763 shares during the last quarter. D.A. Davidson & CO. boosted its stake in First Trust California Municipal High Income ETF by 19.4% in the first quarter. D.A. Davidson & CO. now owns 9,299 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Navigation Group LLC acquired a new stake in First Trust California Municipal High Income ETF in the first quarter valued at approximately $1,444,000. 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.