First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Up 88.9% in March

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant 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 shares of the stock are sold short. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is currently 0.1 days.

First Trust California Municipal High Income ETF Price Performance

FCAL stock traded down $0.07 during midday trading on Friday, reaching $48.62. The company had a trading volume of 5,327 shares, compared to its average volume of 20,934. The firm has a 50-day moving average price of $49.32 and a 200-day moving average price of $49.65. The company has a market capitalization of $267.38 million, a P/E ratio of 127.93 and a beta of 0.15. First Trust California Municipal High Income ETF has a 1 year low of $48.20 and a 1 year high of $50.54.

First Trust California Municipal High Income ETF Dividend Announcement

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

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

Hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in First Trust California Municipal High Income ETF during the 4th quarter valued at about $76,000. JPMorgan Chase & Co. purchased a new stake in shares of First Trust California Municipal High Income ETF during the third quarter valued at approximately $124,000. Private Advisor Group LLC grew its holdings in shares of First Trust California Municipal High Income ETF by 22.2% in the fourth quarter. Private Advisor Group LLC now owns 5,106 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 929 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of First Trust California Municipal High Income ETF by 5.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,368 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 268 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in shares of First Trust California Municipal High Income ETF in the third quarter worth $278,000. Institutional investors own 54.39% of the company’s stock.

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.