Miracle Mile Advisors LLC Has $97.04 Million Stock Holdings in First Trust California Municipal High Income ETF (NASDAQ:FCAL)

Miracle Mile Advisors LLC grew its stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 4.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,999,125 shares of the financial services provider’s stock after purchasing an additional 89,948 shares during the quarter. First Trust California Municipal High Income ETF makes up 1.9% of Miracle Mile Advisors LLC’s holdings, making the stock its 11th largest holding. Miracle Mile Advisors LLC owned approximately 0.36% of First Trust California Municipal High Income ETF worth $97,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. raised its position in First Trust California Municipal High Income ETF by 3.7% during the fourth 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. Steward Partners Investment Advisory LLC increased its stake in shares of First Trust California Municipal High Income ETF by 5.3% during the 4th 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. Wealth Enhancement Advisory Services LLC increased its stake in shares of First Trust California Municipal High Income ETF by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,877 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 271 shares during the last quarter. Magnus Financial Group LLC raised its holdings in shares of First Trust California Municipal High Income ETF by 1.9% in the 1st quarter. Magnus Financial Group LLC now owns 31,892 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 606 shares during the period. Finally, Private Advisor Group LLC lifted its stake 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 valued at $252,000 after purchasing an additional 929 shares during the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

First Trust California Municipal High Income ETF stock opened at $47.82 on Friday. The stock has a 50-day simple moving average of $48.01 and a 200 day simple moving average of $48.95. The stock has a market capitalization of $267.79 million, a P/E ratio of 125.84 and a beta of 0.15. First Trust California Municipal High Income ETF has a 52 week low of $46.44 and a 52 week high of $50.54.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.132 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.58 annualized dividend and a dividend yield of 3.31%. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 400.00%.

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.