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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 10,600 shares, a decrease of 6.2% from the September 30th total of 11,300 shares. Based on an average trading volume of 24,200 shares, the short-interest ratio is presently 0.4 days.

First Trust California Municipal High Income ETF Stock Performance

First Trust California Municipal High Income ETF stock opened at $49.61 on Friday. The firm has a market cap of $260.45 million, a P/E ratio of 130.71 and a beta of 0.15. First Trust California Municipal High Income ETF has a 1-year low of $46.83 and a 1-year high of $51.97. The firm has a 50-day moving average of $50.05 and a 200-day moving average of $49.71.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd were given a $0.1275 dividend. This is a positive change from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. This represents a $1.53 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, October 22nd. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is currently 381.58%.

Hedge Funds Weigh In On First Trust California Municipal High Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FCAL. Commonwealth Equity Services LLC increased its position in First Trust California Municipal High Income ETF by 79.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,426 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 7,713 shares during the period. Mutual Advisors LLC raised its stake in First Trust California Municipal High Income ETF by 2.1% in the first quarter. Mutual Advisors LLC now owns 29,550 shares of the financial services provider’s stock worth $1,467,000 after buying an additional 620 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in First Trust California Municipal High Income ETF in the first quarter worth about $245,000. New Insight Wealth Advisors boosted its position in First Trust California Municipal High Income ETF by 62.2% during the 1st quarter. New Insight Wealth Advisors now owns 19,623 shares of the financial services provider’s stock valued at $974,000 after acquiring an additional 7,528 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in First Trust California Municipal High Income ETF by 34.3% during the 1st quarter. Cetera Investment Advisers now owns 36,476 shares of the financial services provider’s stock valued at $1,811,000 after acquiring an additional 9,314 shares in the last quarter. Institutional investors own 54.39% of the company’s stock.

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.