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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large increase in short interest during 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. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 23,400 shares, the days-to-cover ratio is presently 0.1 days.

First Trust California Municipal High Income ETF Stock Performance

Shares of First Trust California Municipal High Income ETF stock traded down $0.07 during midday trading on Friday, reaching $48.62. 5,327 shares of the company’s stock traded hands, compared to its average volume of 20,934. The company has a market cap of $267.38 million, a PE ratio of 127.93 and a beta of 0.15. The stock has a 50 day moving average of $49.32 and a 200-day moving average of $49.65. First Trust California Municipal High Income ETF has a 12 month low of $48.20 and a 12 month high of $50.54.

First Trust California Municipal High Income ETF Announces Dividend

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

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

Several hedge funds and other institutional investors have recently modified their holdings of FCAL. Townsquare Capital LLC bought a new stake in First Trust California Municipal High Income ETF during the 3rd quarter valued at approximately $406,000. CreativeOne Wealth LLC purchased a new position in shares of First Trust California Municipal High Income ETF in the 3rd quarter valued at approximately $278,000. Rockefeller Capital Management L.P. bought a new stake in shares of First Trust California Municipal High Income ETF during the third quarter valued at approximately $1,004,000. HighTower Advisors LLC grew its stake in First Trust California Municipal High Income ETF by 9.0% in the third quarter. HighTower Advisors LLC now owns 15,688 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 1,298 shares during the period. Finally, Jane Street Group LLC raised its holdings in First Trust California Municipal High Income ETF by 24.1% in the third quarter. Jane Street Group LLC now owns 28,074 shares of the financial services provider’s stock worth $1,409,000 after purchasing an additional 5,447 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 Company Profile

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.