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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,800 shares, a decline of 60.9% from the February 13th total of 4,600 shares. Based on an average trading volume of 24,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its position in First Trust California Municipal High Income ETF by 22.2% during the fourth quarter. Private Advisor Group LLC now owns 5,106 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 929 shares in the last quarter. Jane Street Group LLC increased its stake in First Trust California Municipal High Income ETF by 24.1% during the third quarter. Jane Street Group LLC now owns 28,074 shares of the financial services provider’s stock worth $1,409,000 after acquiring an additional 5,447 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in First Trust California Municipal High Income ETF during the third quarter worth $124,000. HighTower Advisors LLC boosted its position in shares of First Trust California Municipal High Income ETF by 9.0% during the third quarter. HighTower Advisors LLC now owns 15,688 shares of the financial services provider’s stock worth $788,000 after buying an additional 1,298 shares during the period. Finally, Townsquare Capital LLC purchased a new position in shares of First Trust California Municipal High Income ETF during the third quarter worth $406,000. 54.39% of the stock is owned by institutional investors and hedge funds.

First Trust California Municipal High Income ETF Stock Down 0.1 %

FCAL traded down $0.07 during trading hours on Friday, reaching $49.15. 33,201 shares of the company’s stock traded hands, compared to its average volume of 17,998. The firm has a 50-day moving average price of $49.36 and a 200 day moving average price of $49.73. First Trust California Municipal High Income ETF has a 52-week low of $48.26 and a 52-week high of $50.54. The firm has a market capitalization of $270.33 million, a PE ratio of 129.34 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, February 28th. Shareholders of record on Friday, February 21st were issued a $0.129 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.15%. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 392.11%.

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.