Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Drops By 93.0%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 3,100 shares, a decline of 93.0% from the December 15th total of 44,000 shares. Based on an average trading volume of 24,300 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FCAL. Miracle Mile Advisors LLC increased its stake in shares of First Trust California Municipal High Income ETF by 6.4% during the fourth quarter. Miracle Mile Advisors LLC now owns 1,909,177 shares of the financial services provider’s stock valued at $94,256,000 after buying an additional 114,040 shares during the period. LPL Financial LLC raised its position in shares of First Trust California Municipal High Income ETF by 14.2% in the 2nd quarter. LPL Financial LLC now owns 664,470 shares of the financial services provider’s stock worth $32,905,000 after purchasing an additional 82,860 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in First Trust California Municipal High Income ETF in the 3rd quarter valued at approximately $1,004,000. Blue Zone Wealth Advisors LLC purchased a new position in First Trust California Municipal High Income ETF in the 3rd quarter worth about $742,000. Finally, Townsquare Capital LLC bought a new position in First Trust California Municipal High Income ETF during the third quarter valued at approximately $406,000. 54.39% of the stock is owned by institutional investors.

First Trust California Municipal High Income ETF Stock Performance

NASDAQ FCAL traded down $0.20 during trading hours on Monday, hitting $48.92. The company had a trading volume of 34,651 shares, compared to its average volume of 22,293. The firm has a 50 day simple moving average of $49.73 and a 200 day simple moving average of $49.85. The firm has a market capitalization of $271.51 million, a price-to-earnings ratio of 128.74 and a beta of 0.15. First Trust California Municipal High Income ETF has a 52 week low of $47.43 and a 52 week high of $50.54.

First Trust California Municipal High Income ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.1275 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.53 annualized dividend and a yield of 3.13%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 386.84%.

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.