Royal Bank of Canada Has $684,000 Stock Position in First Trust California Municipal High Income ETF $FCAL

Royal Bank of Canada decreased its stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 80.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,998 shares of the financial services provider’s stock after selling 55,911 shares during the quarter. Royal Bank of Canada owned 0.33% of First Trust California Municipal High Income ETF worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in shares of First Trust California Municipal High Income ETF by 2.6% in the 4th quarter. LPL Financial LLC now owns 872,810 shares of the financial services provider’s stock valued at $43,036,000 after acquiring an additional 22,277 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of First Trust California Municipal High Income ETF by 4,304.3% in the 4th quarter. NewEdge Advisors LLC now owns 314,073 shares of the financial services provider’s stock valued at $15,486,000 after acquiring an additional 306,942 shares during the period. Citizens Business Bank bought a new position in First Trust California Municipal High Income ETF during the 1st quarter worth approximately $5,809,000. Jane Street Group LLC boosted its stake in First Trust California Municipal High Income ETF by 171.0% during the 2nd quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock worth $4,267,000 after acquiring an additional 56,132 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in First Trust California Municipal High Income ETF by 8.5% during the 1st quarter. Cetera Investment Advisers now owns 86,321 shares of the financial services provider’s stock worth $4,220,000 after acquiring an additional 6,763 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ FCAL opened at $48.54 on Monday. First Trust California Municipal High Income ETF has a 52-week low of $47.60 and a 52-week high of $50.13. The stock has a market cap of $218.43 million, a P/E ratio of 127.74 and a beta of 0.25. The firm has a 50 day moving average price of $49.19 and a 200 day moving average price of $49.35.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a dividend of $0.144 per share. This is a positive change from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 21st. First Trust California Municipal High Income ETF’s payout ratio is 436.84%.

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.