First Trust California Municipal High Income ETF (NASDAQ:FCAL) Stock Short Interest Jumps 67.9%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 29,636 shares, a growth of 67.9% from the September 15th total of 17,650 shares. Based on an average trading volume of 43,487 shares, the short-interest ratio is presently 0.7 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of First Trust California Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of FCAL. IFP Advisors Inc purchased a new stake in shares of First Trust California Municipal High Income ETF during the 2nd quarter valued at approximately $2,072,000. Navigation Group LLC bought a new position in First Trust California Municipal High Income ETF in the 1st quarter worth approximately $1,444,000. XP Advisory US Inc. bought a new position in First Trust California Municipal High Income ETF in the 2nd quarter worth approximately $896,000. Baird Financial Group Inc. purchased a new position in First Trust California Municipal High Income ETF in the 2nd quarter valued at approximately $23,377,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in First Trust California Municipal High Income ETF in the 2nd quarter valued at approximately $1,040,000. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Up 0.7%

NASDAQ FCAL opened at $46.89 on Friday. The company has a market cap of $211.00 million, a PE ratio of 123.39 and a beta of 0.26. First Trust California Municipal High Income ETF has a 52 week low of $45.78 and a 52 week high of $50.13. The firm’s 50-day simple moving average is $47.56 and its two-hundred day simple moving average is $48.68.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.1450 dividend. The ex-dividend date was Thursday, September 24th. This is a positive change from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.1440. This represents a $1.74 annualized dividend and a dividend yield of 3.7%. First Trust California Municipal High Income ETF’s dividend payout ratio is 442.11%.

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.