First Trust California Municipal High Income ETF (NASDAQ:FCAL) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

First Trust California Municipal High Income ETF (NASDAQ:FCAL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.65 and traded as high as $50.50. First Trust California Municipal High Income ETF shares last traded at $50.48, with a volume of 11,211 shares trading hands.

First Trust California Municipal High Income ETF Stock Up 0.1 %

The company has a market cap of $249.88 million, a PE ratio of 132.84 and a beta of 0.15. The firm has a fifty day simple moving average of $50.07 and a 200-day simple moving average of $49.65.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were paid a $0.125 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.50 dividend on an annualized basis and a yield of 2.97%. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.12. First Trust California Municipal High Income ETF’s payout ratio is currently 378.95%.

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

A number of institutional investors have recently modified their holdings of FCAL. Miracle Mile Advisors LLC raised its holdings in shares of First Trust California Municipal High Income ETF by 29.1% in the second quarter. Miracle Mile Advisors LLC now owns 1,717,241 shares of the financial services provider’s stock valued at $85,038,000 after buying an additional 386,980 shares during the last quarter. LPL Financial LLC increased its holdings in shares of First Trust California Municipal High Income ETF by 14.2% in the second quarter. LPL Financial LLC now owns 664,470 shares of the financial services provider’s stock valued at $32,905,000 after purchasing an additional 82,860 shares during the period. Ignite Planners LLC acquired a new stake in shares of First Trust California Municipal High Income ETF during the second quarter worth $1,534,000. Southland Equity Partners LLC increased its stake in First Trust California Municipal High Income ETF by 27.0% in the 2nd quarter. Southland Equity Partners LLC now owns 71,344 shares of the financial services provider’s stock valued at $3,533,000 after buying an additional 15,173 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of First Trust California Municipal High Income ETF by 34.3% in the 1st quarter. Cetera Investment Advisers now owns 36,476 shares of the financial services provider’s stock worth $1,811,000 after acquiring an additional 9,314 shares during the period. 54.39% of the stock is owned by institutional investors and hedge funds.

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.