Farther Finance Advisors LLC Invests $296,000 in First Trust California Municipal High Income ETF (NASDAQ:FCAL)

Farther Finance Advisors LLC purchased a new position in First Trust California Municipal High Income ETF (NASDAQ:FCAL) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,000 shares of the financial services provider’s stock, valued at approximately $296,000.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC lifted its position in shares of 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 purchasing an additional 929 shares during the period. Jane Street Group LLC lifted its position in First Trust California Municipal High Income ETF by 24.1% during the third quarter. Jane Street Group LLC now owns 28,074 shares of the financial services provider’s stock valued at $1,409,000 after acquiring an additional 5,447 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in First Trust California Municipal High Income ETF during the third quarter valued at approximately $124,000. HighTower Advisors LLC lifted its position in First Trust California Municipal High Income ETF by 9.0% during the third quarter. HighTower Advisors LLC now owns 15,688 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 1,298 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in First Trust California Municipal High Income ETF by 5.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,368 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 268 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 Stock Down 0.3 %

NASDAQ:FCAL opened at $49.01 on Wednesday. First Trust California Municipal High Income ETF has a 52 week low of $48.26 and a 52 week high of $50.54. The firm has a 50 day moving average of $49.34 and a 200 day moving average of $49.71. The stock has a market capitalization of $269.56 million, a price-to-earnings ratio of 128.97 and a beta of 0.15.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.129 per share. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.55 dividend on an annualized basis and a yield of 3.16%. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 392.11%.

First Trust California Municipal High Income ETF 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.