First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Down 88.2% in August

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 5,500 shares, a decline of 88.2% from the August 15th total of 46,800 shares. Based on an average daily trading volume, of 24,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FCAL. Private Advisor Group LLC acquired a new position in First Trust California Municipal High Income ETF during the 4th quarter worth $205,000. EP Wealth Advisors LLC acquired a new position in shares of First Trust California Municipal High Income ETF during the 4th quarter worth about $308,000. Southland Equity Partners LLC boosted its stake in First Trust California Municipal High Income ETF by 24.6% during the 1st quarter. Southland Equity Partners LLC now owns 56,171 shares of the financial services provider’s stock valued at $2,789,000 after purchasing an additional 11,079 shares during the period. Towerpoint Wealth LLC grew its holdings in First Trust California Municipal High Income ETF by 37.3% in the 1st quarter. Towerpoint Wealth LLC now owns 8,661 shares of the financial services provider’s stock valued at $430,000 after buying an additional 2,353 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in First Trust California Municipal High Income ETF by 30.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,330,261 shares of the financial services provider’s stock worth $66,047,000 after buying an additional 312,542 shares during the period. 54.39% of the stock is currently owned by institutional investors and hedge funds.

First Trust California Municipal High Income ETF Price Performance

FCAL traded up $0.06 on Thursday, hitting $50.29. The company had a trading volume of 6,183 shares, compared to its average volume of 25,171. The stock has a market cap of $248.94 million, a price-to-earnings ratio of 132.45 and a beta of 0.15. The company’s fifty day moving average price is $49.88 and its 200 day moving average price is $49.60. First Trust California Municipal High Income ETF has a 1-year low of $46.30 and a 1-year high of $51.97.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were paid a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.12. The ex-dividend date was Wednesday, August 21st. First Trust California Municipal High Income ETF’s payout ratio is presently 376.32%.

About First Trust California Municipal High Income ETF

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.