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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,200 shares, a drop of 13.5% from the January 15th total of 3,700 shares. Based on an average daily trading volume, of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of First Trust California Municipal High Income ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth $124,000. Private Advisor Group LLC lifted its position in shares of First Trust California Municipal High Income ETF by 22.2% during the fourth quarter. Private Advisor Group LLC now owns 5,106 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 929 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of First Trust California Municipal High Income ETF by 5.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,368 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 268 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth $278,000. Finally, Guild Investment Management Inc. purchased a new position in shares of First Trust California Municipal High Income ETF during the fourth quarter valued at $296,000. 54.39% of the stock is currently owned by institutional investors.

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL traded up $0.07 on Friday, hitting $49.29. 14,570 shares of the company’s stock were exchanged, compared to its average volume of 20,389. First Trust California Municipal High Income ETF has a 12 month low of $48.26 and a 12 month high of $50.54. The stock has a market capitalization of $271.10 million, a price-to-earnings ratio of 129.71 and a beta of 0.15. The business’s 50 day simple moving average is $49.42 and its two-hundred day simple moving average is $49.80.

First Trust California Municipal High Income ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were given a dividend of $0.129 per share. The ex-dividend date of this dividend was Wednesday, January 22nd. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 389.47%.

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.