Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Drops By 68.7%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 30,100 shares, a decrease of 68.7% from the June 15th total of 96,200 shares. Based on an average trading volume of 20,200 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 83.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 1,017,719 shares of the financial services provider’s stock worth $50,794,000 after acquiring an additional 461,641 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in First Trust California Municipal High Income ETF during the fourth quarter worth $1,744,000. Citizens Business Bank grew its holdings in First Trust California Municipal High Income ETF by 27.5% in the fourth quarter. Citizens Business Bank now owns 114,249 shares of the financial services provider’s stock valued at $5,702,000 after purchasing an additional 24,676 shares during the last quarter. Southland Equity Partners LLC increased its position in shares of First Trust California Municipal High Income ETF by 27.0% in the second quarter. Southland Equity Partners LLC now owns 71,344 shares of the financial services provider’s stock valued at $3,533,000 after buying an additional 15,173 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of First Trust California Municipal High Income ETF during the 4th quarter worth $671,000. 54.39% of the stock is currently owned by institutional investors and hedge funds.

First Trust California Municipal High Income ETF Stock Performance

First Trust California Municipal High Income ETF stock traded up $0.09 during midday trading on Friday, reaching $49.76. The company’s stock had a trading volume of 2,842 shares, compared to its average volume of 25,253. The firm has a market capitalization of $243.82 million, a PE ratio of 130.71 and a beta of 0.15. First Trust California Municipal High Income ETF has a fifty-two week low of $46.30 and a fifty-two week high of $51.97. The stock’s 50 day simple moving average is $49.42 and its 200 day simple moving average is $49.55.

First Trust California Municipal High Income ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a $0.1225 dividend. This represents a $1.47 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Thursday, June 27th. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 371.05%.

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.