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

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

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL traded up $0.07 during trading on Friday, hitting $49.29. The company’s stock had a trading volume of 14,570 shares, compared to its average volume of 20,389. The company has a 50-day moving average of $49.42 and a 200-day moving average of $49.80. The firm has a market cap of $271.10 million, a price-to-earnings ratio of 129.71 and a beta of 0.15. First Trust California Municipal High Income ETF has a 12 month low of $48.26 and a 12 month high of $50.54.

First Trust California Municipal High Income ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were issued a $0.129 dividend. The ex-dividend date was Wednesday, January 22nd. First Trust California Municipal High Income ETF’s dividend payout ratio is 389.47%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its holdings in First Trust California Municipal High Income ETF by 3.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,477 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 230 shares in the last quarter. Running Point Capital Advisors LLC increased its holdings in First Trust California Municipal High Income ETF by 0.8% in the 3rd quarter. Running Point Capital Advisors LLC now owns 31,348 shares of the financial services provider’s stock worth $1,573,000 after acquiring an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in First Trust California Municipal High Income ETF by 5.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,368 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 268 shares in the last quarter. Twin Peaks Wealth Advisors LLC increased its holdings in First Trust California Municipal High Income ETF by 5.2% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 13,639 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 680 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in First Trust California Municipal High Income ETF by 22.2% in the 4th quarter. Private Advisor Group LLC now owns 5,106 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 929 shares in the last quarter. 54.39% of the stock is owned by hedge funds and other institutional investors.

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.