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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 3,100 shares, a decrease of 93.0% from the December 31st total of 44,000 shares. Based on an average daily trading volume, of 24,300 shares, the days-to-cover ratio is presently 0.1 days.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ FCAL opened at $49.44 on Wednesday. First Trust California Municipal High Income ETF has a 12-month low of $48.26 and a 12-month high of $50.54. The firm’s 50-day moving average price is $49.61 and its 200-day moving average price is $49.82. The stock has a market capitalization of $274.39 million, a price-to-earnings ratio of 130.11 and a beta of 0.15.

First Trust California Municipal High Income ETF Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be paid a $0.129 dividend. The ex-dividend date is Wednesday, January 22nd. First Trust California Municipal High Income ETF’s payout ratio is 389.47%.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Running Point Capital Advisors LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 0.8% during the 3rd quarter. Running Point Capital Advisors LLC now owns 31,348 shares of the financial services provider’s stock worth $1,573,000 after purchasing an additional 255 shares during the period. Ignite Planners LLC boosted its position in shares of First Trust California Municipal High Income ETF by 1.1% during the third quarter. Ignite Planners LLC now owns 31,303 shares of the financial services provider’s stock valued at $1,571,000 after buying an additional 332 shares during the period. Twin Peaks Wealth Advisors LLC boosted its position in shares of First Trust California Municipal High Income ETF by 5.2% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 13,639 shares of the financial services provider’s stock valued at $684,000 after buying an additional 680 shares during the period. Mutual Advisors LLC grew its stake in shares of First Trust California Municipal High Income ETF by 4.7% during the fourth quarter. Mutual Advisors LLC now owns 21,613 shares of the financial services provider’s stock valued at $1,061,000 after buying an additional 970 shares during the last quarter. Finally, Magnus Financial Group LLC raised its holdings in shares of First Trust California Municipal High Income ETF by 3.3% in the fourth quarter. Magnus Financial Group LLC now owns 31,286 shares of the financial services provider’s stock worth $1,545,000 after buying an additional 1,001 shares during the period. Hedge funds and other institutional investors own 54.39% of the company’s stock.

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.