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 target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,800 shares, a decrease of 60.9% from the February 13th total of 4,600 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 24,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Miracle Mile Advisors LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 6.4% during 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 acquiring an additional 114,040 shares during the period. OLD Mission Capital LLC acquired a new stake in First Trust California Municipal High Income ETF during the 4th quarter worth approximately $2,068,000. Guggenheim Capital LLC lifted its holdings in First Trust California Municipal High Income ETF by 248.7% during the 4th quarter. Guggenheim Capital LLC now owns 57,315 shares of the financial services provider’s stock worth $2,830,000 after purchasing an additional 40,880 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in First Trust California Municipal High Income ETF in the 4th quarter valued at $1,741,000. Finally, Citizens Business Bank raised its holdings in First Trust California Municipal High Income ETF by 35.8% in the 4th quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock valued at $6,363,000 after acquiring an additional 33,958 shares in the last quarter. 54.39% of the stock is currently owned by institutional investors.

First Trust California Municipal High Income ETF Stock Down 0.7 %

Shares of NASDAQ:FCAL traded down $0.32 during mid-day trading on Thursday, reaching $48.97. 646 shares of the stock were exchanged, compared to its average volume of 17,484. The company has a market cap of $269.31 million, a P/E ratio of 128.86 and a beta of 0.15. First Trust California Municipal High Income ETF has a one year low of $48.26 and a one year high of $50.54. The stock’s 50 day simple moving average is $49.36 and its 200-day simple moving average is $49.73.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.129 per share. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.16%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 392.11%.

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.