First Trust California Municipal High Income ETF (NASDAQ:FCAL) Stock Short Interest Jumps 67.9%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 29,636 shares, a growth of 67.9% from the September 15th total of 17,650 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 43,487 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On First Trust California Municipal High Income ETF

Hedge funds have recently modified their holdings of the stock. Triumph Capital Management purchased a new position in First Trust California Municipal High Income ETF in the second quarter valued at approximately $25,000. Fifth Third Bancorp purchased a new stake in First Trust California Municipal High Income ETF in the first quarter worth $47,000. Citadel Advisors LLC purchased a new stake in First Trust California Municipal High Income ETF in the second quarter worth $223,000. D.A. Davidson & CO. increased its position in First Trust California Municipal High Income ETF by 19.4% in the first quarter. D.A. Davidson & CO. now owns 9,299 shares of the financial services provider’s stock worth $455,000 after buying an additional 1,511 shares during the last quarter. Finally, CLG LLC raised its stake in shares of First Trust California Municipal High Income ETF by 15.5% in the first quarter. CLG LLC now owns 10,286 shares of the financial services provider’s stock valued at $503,000 after buying an additional 1,378 shares during the period. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Up 0.7%

FCAL opened at $46.89 on Friday. The stock has a market cap of $211.00 million, a price-to-earnings ratio of 123.39 and a beta of 0.26. First Trust California Municipal High Income ETF has a twelve month low of $45.78 and a twelve month high of $50.13. The company’s 50-day moving average price is $47.56 and its two-hundred day moving average price is $48.68.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a dividend of $0.1450 per share. This represents a $1.74 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, September 24th. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.1440. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 442.11%.

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.