First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Up 88.9% in March

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,400 shares, an increase of 88.9% from the February 28th total of 1,800 shares. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

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

Hedge funds have recently bought and sold shares of the company. Miracle Mile Advisors LLC lifted its stake in First Trust California Municipal High Income ETF by 6.4% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,909,177 shares of the financial services provider’s stock worth $94,256,000 after purchasing an additional 114,040 shares in the last quarter. LPL Financial LLC increased its holdings in shares of First Trust California Municipal High Income ETF by 1.1% in the fourth quarter. LPL Financial LLC now owns 760,481 shares of the financial services provider’s stock worth $37,545,000 after purchasing an additional 8,563 shares during the period. Citizens Business Bank raised its position in shares of First Trust California Municipal High Income ETF by 35.8% in the fourth quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock worth $6,363,000 after buying an additional 33,958 shares in the last quarter. Guggenheim Capital LLC boosted its stake in First Trust California Municipal High Income ETF by 248.7% during the fourth quarter. Guggenheim Capital LLC now owns 57,315 shares of the financial services provider’s stock valued at $2,830,000 after buying an additional 40,880 shares during the period. Finally, Cetera Investment Advisers grew its position in First Trust California Municipal High Income ETF by 13.0% during the fourth quarter. Cetera Investment Advisers now owns 52,388 shares of the financial services provider’s stock worth $2,586,000 after buying an additional 6,019 shares in the last quarter. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Down 0.1 %

FCAL traded down $0.07 during trading on Friday, reaching $48.62. 5,327 shares of the company were exchanged, compared to its average volume of 20,934. First Trust California Municipal High Income ETF has a 12-month low of $48.20 and a 12-month high of $50.54. The company’s 50-day moving average is $49.32 and its two-hundred day moving average is $49.65. The company has a market cap of $267.38 million, a price-to-earnings ratio of 127.93 and a beta of 0.15.

First Trust California Municipal High Income ETF Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be issued a $0.129 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, March 27th. First Trust California Municipal High Income ETF’s payout ratio is 360.53%.

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.