Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Decreases By 19.5%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 13,855 shares, a drop of 19.5% from the January 15th total of 17,205 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 19,833 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 19,833 shares, the short-interest ratio is currently 0.7 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its stake in shares of First Trust California Municipal High Income ETF by 351.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,662 shares of the financial services provider’s stock valued at $895,000 after buying an additional 14,532 shares during the period. Diversified Portfolios Inc. purchased a new stake in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $210,000. WESPAC Advisors SoCal LLC purchased a new position in shares of First Trust California Municipal High Income ETF in the third quarter worth about $746,000. D.A. Davidson & CO. purchased a new stake in shares of First Trust California Municipal High Income ETF in the 2nd quarter valued at $205,000. Finally, Cetera Investment Advisers grew its position in First Trust California Municipal High Income ETF by 17.7% during the 2nd quarter. Cetera Investment Advisers now owns 65,904 shares of the financial services provider’s stock worth $3,161,000 after purchasing an additional 9,904 shares during the period. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Stock Up 0.2%

NASDAQ:FCAL opened at $49.97 on Friday. The firm has a market capitalization of $207.38 million, a P/E ratio of 131.50 and a beta of 0.25. The company has a fifty day moving average of $49.44 and a 200 day moving average of $48.97. First Trust California Municipal High Income ETF has a 52 week low of $46.44 and a 52 week high of $50.11.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were paid a $0.14 dividend. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, January 21st. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 421.05%.

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.