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 recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 12,380 shares, a decrease of 51.1% from the May 14th total of 25,326 shares. Based on an average daily volume of 31,549 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust California Municipal High Income ETF

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of First Trust California Municipal High Income ETF by 2.4% in the 1st quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock valued at $6,321,000 after purchasing an additional 3,039 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $467,000. Raymond James Financial Inc. purchased a new stake in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $570,000. Jane Street Group LLC increased its stake in First Trust California Municipal High Income ETF by 171.0% during the 2nd quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock valued at $4,267,000 after purchasing an additional 56,132 shares in the last quarter. Finally, CLG LLC increased its stake in First Trust California Municipal High Income ETF by 62.8% during the 2nd quarter. CLG LLC now owns 7,080 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 2,732 shares in the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Price Performance

Shares of FCAL stock opened at $49.49 on Friday. First Trust California Municipal High Income ETF has a 1-year low of $47.35 and a 1-year high of $50.13. The stock’s fifty day moving average price is $49.32 and its 200 day moving average price is $49.41. The company has a market cap 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 Increases Dividend

The firm also recently declared 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) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is 431.58%.

First Trust California Municipal High Income ETF Company Profile

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.