Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Grows By 88.9%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,400 shares, an increase of 88.9% from the February 28th total of 1,800 shares. Based on an average trading volume of 23,400 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

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

Several hedge funds have recently modified their holdings of the company. Miracle Mile Advisors LLC grew its stake in First Trust California Municipal High Income ETF by 6.4% during the 4th quarter. Miracle Mile Advisors LLC now owns 1,909,177 shares of the financial services provider’s stock valued at $94,256,000 after acquiring an additional 114,040 shares in the last quarter. LPL Financial LLC increased its holdings in First Trust California Municipal High Income ETF by 1.1% in the 4th quarter. LPL Financial LLC now owns 760,481 shares of the financial services provider’s stock valued at $37,545,000 after purchasing an additional 8,563 shares during the last quarter. Citizens Business Bank boosted its holdings in First Trust California Municipal High Income ETF by 35.8% during the 4th quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock valued at $6,363,000 after acquiring an additional 33,958 shares during the period. Guggenheim Capital LLC lifted its holdings in First Trust California Municipal High Income ETF by 248.7% during the 4th quarter. Guggenheim Capital LLC now owns 57,315 shares of the financial services provider’s stock worth $2,830,000 after buying an additional 40,880 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in First Trust California Municipal High Income ETF by 13.0% in the 4th quarter. Cetera Investment Advisers now owns 52,388 shares of the financial services provider’s stock valued at $2,586,000 after buying an additional 6,019 shares during the period. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Trading Down 0.1 %

Shares of FCAL traded down $0.07 during midday trading on Friday, reaching $48.62. 5,327 shares of the stock were exchanged, compared to its average volume of 21,148. First Trust California Municipal High Income ETF has a 52 week low of $48.20 and a 52 week high of $50.54. The company’s 50 day moving average is $49.33 and its two-hundred day moving average is $49.66. The company has a market capitalization of $267.38 million, a P/E ratio of 127.93 and a beta of 0.15.

First Trust California Municipal High Income ETF Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 27th will be given a dividend of $0.129 per share. This represents a $1.55 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, March 27th. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 360.53%.

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.