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 drop in short interest during the month of February. As of February 28th, there was short interest totalling 1,800 shares, a drop of 60.9% from the February 13th total of 4,600 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 24,600 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FCAL. Miracle Mile Advisors LLC boosted its holdings in First Trust California Municipal High Income ETF by 6.4% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,909,177 shares of the financial services provider’s stock worth $94,256,000 after buying an additional 114,040 shares during the period. OLD Mission Capital LLC bought a new position in First Trust California Municipal High Income ETF in the 4th quarter worth approximately $2,068,000. Guggenheim Capital LLC boosted its holdings in First Trust California Municipal High Income ETF by 248.7% in 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 during the period. Atomi Financial Group Inc. bought a new position in First Trust California Municipal High Income ETF in the 4th quarter worth approximately $1,741,000. Finally, Citizens Business Bank boosted its holdings in First Trust California Municipal High Income ETF by 35.8% in the 4th quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock worth $6,363,000 after buying an additional 33,958 shares during the period. 54.39% of the stock is owned by institutional investors.

First Trust California Municipal High Income ETF Stock Performance

NASDAQ:FCAL traded down $0.07 on Friday, hitting $49.15. The stock had a trading volume of 33,201 shares, compared to its average volume of 17,998. First Trust California Municipal High Income ETF has a 1 year low of $48.26 and a 1 year high of $50.54. The firm’s fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $49.73. The stock has a market cap of $270.33 million, a P/E ratio of 129.34 and a beta of 0.15.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a $0.129 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. This represents a $1.55 annualized dividend and a yield of 3.15%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 392.11%.

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.