Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Expands By 210.9%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 17,100 shares, a growth of 210.9% from the August 31st total of 5,500 shares. Based on an average daily volume of 20,900 shares, the days-to-cover ratio is presently 0.8 days.

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

Several institutional investors and hedge funds have recently modified their holdings of FCAL. Cetera Investment Advisers lifted its holdings in First Trust California Municipal High Income ETF by 17.4% in the second quarter. Cetera Investment Advisers now owns 42,826 shares of the financial services provider’s stock valued at $2,121,000 after acquiring an additional 6,350 shares during the period. Perennial Investment Advisors LLC increased its holdings in shares of First Trust California Municipal High Income ETF by 4.0% during the 2nd quarter. Perennial Investment Advisors LLC now owns 6,526 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 250 shares in the last quarter. LPL Financial LLC lifted its stake in shares of First Trust California Municipal High Income ETF by 14.2% in the 2nd 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. Larson Financial Group LLC purchased a new stake in First Trust California Municipal High Income ETF during the second quarter worth $45,000. Finally, Commonwealth Equity Services LLC boosted its holdings in First Trust California Municipal High Income ETF by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,395 shares of the financial services provider’s stock worth $911,000 after buying an additional 969 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

FCAL traded down $0.18 during trading on Wednesday, reaching $50.20. 8,933 shares of the company’s stock were exchanged, compared to its average volume of 24,730. The company’s fifty day simple moving average is $50.00 and its 200-day simple moving average is $49.63. The stock has a market capitalization of $248.49 million, a P/E ratio of 132.58 and a beta of 0.15. First Trust California Municipal High Income ETF has a 1 year low of $46.30 and a 1 year high of $51.97.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.1235 per share. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.12. This represents a $1.48 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 21st. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is currently 376.32%.

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.