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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 10,913 shares, a decrease of 63.2% from the September 30th total of 29,636 shares. Based on an average trading volume of 46,134 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the company are short sold.

First Trust California Municipal High Income ETF Stock Performance

NASDAQ:FCAL traded up $0.14 during mid-day trading on Friday, reaching $47.67. 64,847 shares of the company’s stock were exchanged, compared to its average volume of 24,241. First Trust California Municipal High Income ETF has a one year low of $45.78 and a one year high of $50.13. The firm has a market capitalization of $212.13 million, a PE ratio of 125.45 and a beta of 0.26. The business’s fifty day simple moving average is $47.22 and its two-hundred day simple moving average is $48.83.

First Trust California Municipal High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st will be given a dividend of $0.1450 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, October 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 444.74%.

Institutional Investors Weigh In On First Trust California Municipal High Income ETF

Several institutional investors have recently made changes to their positions in FCAL. Smith Chas P & Associates PA Cpas acquired a new stake in shares of First Trust California Municipal High Income ETF during the 2nd quarter worth $117,872,000. NewEdge Advisors LLC raised its stake in First Trust California Municipal High Income ETF by 31,414.1% in the second quarter. NewEdge Advisors LLC now owns 2,275,951 shares of the financial services provider’s stock valued at $113,006,000 after purchasing an additional 2,268,729 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in First Trust California Municipal High Income ETF by 31,398.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,700,588 shares of the financial services provider’s stock valued at $84,438,000 after purchasing an additional 1,695,189 shares in the last quarter. Baird Financial Group Inc. acquired a new position in First Trust California Municipal High Income ETF in the second quarter valued at about $23,377,000. Finally, Citizens Business Bank bought a new stake in First Trust California Municipal High Income ETF during the first quarter worth about $5,809,000. 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.