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 target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,100 shares, a drop of 93.0% from the December 15th total of 44,000 shares. Based on an average daily volume of 24,300 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of First Trust California Municipal High Income ETF

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in shares of First Trust California Municipal High Income ETF in the 3rd quarter worth $124,000. Johnson Bixby & Associates LLC purchased a new position in First Trust California Municipal High Income ETF in the third quarter valued at about $202,000. CreativeOne Wealth LLC bought a new position in First Trust California Municipal High Income ETF in the third quarter worth about $278,000. Perennial Investment Advisors LLC lifted its position in shares of First Trust California Municipal High Income ETF by 4.0% during the second quarter. Perennial Investment Advisors LLC now owns 6,526 shares of the financial services provider’s stock valued at $323,000 after buying an additional 250 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of First Trust California Municipal High Income ETF by 37.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,606 shares of the financial services provider’s stock valued at $331,000 after buying an additional 1,783 shares during the last quarter. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL traded up $0.23 during trading hours on Wednesday, hitting $49.07. The company’s stock had a trading volume of 9,689 shares, compared to its average volume of 19,610. The firm’s fifty day moving average price is $49.69 and its 200 day moving average price is $49.84. First Trust California Municipal High Income ETF has a 52 week low of $47.43 and a 52 week high of $50.54. The company has a market capitalization of $272.34 million, a price-to-earnings ratio of 129.13 and a beta of 0.15.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.1275 dividend. This represents a $1.53 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, December 13th. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 386.84%.

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.