Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Expands By 98.2%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 44,000 shares, an increase of 98.2% from the November 30th total of 22,200 shares. Based on an average daily trading volume, of 22,200 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of First Trust California Municipal High Income ETF

Several hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC grew its holdings in shares of First Trust California Municipal High Income ETF by 9.0% in the third quarter. HighTower Advisors LLC now owns 15,688 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 1,298 shares in the last quarter. Harbour Investments Inc. boosted its position in First Trust California Municipal High Income ETF by 7.5% in the 2nd quarter. Harbour Investments Inc. now owns 6,708 shares of the financial services provider’s stock valued at $332,000 after buying an additional 466 shares during the period. Cetera Investment Advisers grew its stake in shares of First Trust California Municipal High Income ETF by 17.4% in the second quarter. Cetera Investment Advisers now owns 42,826 shares of the financial services provider’s stock worth $2,121,000 after acquiring an additional 6,350 shares in the last quarter. Jane Street Group LLC grew its stake in shares of First Trust California Municipal High Income ETF by 24.1% in the third quarter. Jane Street Group LLC now owns 28,074 shares of the financial services provider’s stock worth $1,409,000 after acquiring an additional 5,447 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of First Trust California Municipal High Income ETF by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,395 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 969 shares during the period. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Price Performance

Shares of FCAL stock traded up $0.01 on Friday, hitting $49.32. The stock had a trading volume of 29,674 shares, compared to its average volume of 24,333. The company’s 50 day moving average price is $49.78 and its 200-day moving average price is $49.88. First Trust California Municipal High Income ETF has a 1 year low of $47.43 and a 1 year high of $50.54. The firm has a market capitalization of $258.93 million, a P/E ratio of 129.79 and a beta of 0.15.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.1275 per share. The ex-dividend date is Friday, December 13th. This represents a $1.53 dividend on an annualized basis and a yield of 3.10%. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 386.84%.

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.