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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 17,205 shares, a growth of 25.2% from the December 31st total of 13,745 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 17,830 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 17,830 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the company’s shares are sold short.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ FCAL traded up $0.10 during midday trading on Wednesday, reaching $49.67. 3,900 shares of the stock were exchanged, compared to its average volume of 18,582. The stock has a market capitalization of $206.13 million, a P/E ratio of 130.71 and a beta of 0.25. The company has a 50 day simple moving average of $49.36 and a 200 day simple moving average of $48.85. First Trust California Municipal High Income ETF has a twelve month low of $46.44 and a twelve month 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 a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a c) annualized dividend and a dividend yield of 3.4%. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 421.05%.

Institutional Trading of First Trust California Municipal High Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FCAL. Envestnet Portfolio Solutions Inc. raised its position in First Trust California Municipal High Income ETF by 351.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,662 shares of the financial services provider’s stock valued at $895,000 after purchasing 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 about $210,000. WESPAC Advisors SoCal LLC purchased a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth approximately $746,000. D.A. Davidson & CO. acquired 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 increased its holdings in First Trust California Municipal High Income ETF by 17.7% in the second quarter. Cetera Investment Advisers now owns 65,904 shares of the financial services provider’s stock valued at $3,161,000 after buying an additional 9,904 shares during the last quarter. 54.39% of the stock is owned by institutional investors and hedge funds.

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.