XP Advisory US Inc. Invests $896,000 in First Trust California Municipal High Income ETF $FCAL

XP Advisory US Inc. acquired a new stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,046 shares of the financial services provider’s stock, valued at approximately $896,000. First Trust California Municipal High Income ETF comprises 0.5% of XP Advisory US Inc.’s portfolio, making the stock its 10th biggest position. XP Advisory US Inc. owned about 0.40% of First Trust California Municipal High Income ETF at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in First Trust California Municipal High Income ETF by 1.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,146 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 225 shares during the last quarter. Integral Investment Advisors Inc. increased its stake in First Trust California Municipal High Income ETF by 0.8% in the first quarter. Integral Investment Advisors Inc. now owns 32,755 shares of the financial services provider’s stock valued at $1,601,000 after purchasing an additional 250 shares during the last quarter. Triumph Capital Management acquired a new stake in First Trust California Municipal High Income ETF during the second quarter worth approximately $25,000. Envestnet Asset Management Inc. raised its holdings in First Trust California Municipal High Income ETF by 14.7% during the third quarter. Envestnet Asset Management Inc. now owns 6,177 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 791 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of First Trust California Municipal High Income ETF during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ:FCAL opened at $47.97 on Friday. The firm has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $49.25. First Trust California Municipal High Income ETF has a twelve month low of $47.90 and a twelve month high of $50.13. The company has a market capitalization of $215.87 million, a PE ratio of 126.24 and a beta of 0.25.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.144 dividend. This represents a c) dividend on an annualized basis and a yield of 3.6%. 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 Friday, August 21st. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 439.47%.

First Trust California Municipal High Income ETF 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.