First Trust California Municipal High Income ETF (NASDAQ:FCAL) Raises Dividend to $0.14 Per Share

First Trust California Municipal High Income ETF (NASDAQ:FCAL) announced a monthly dividend on Wednesday, May 20th, NASDAQ Dividends reports. Stockholders of record on Thursday, May 21st will be paid a dividend of 0.143 per share by the financial services provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, May 21st. This is a 0.7% increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14.

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL traded down $0.19 on Thursday, reaching $48.84. The company’s stock had a trading volume of 33,196 shares, compared to its average volume of 22,129. The stock’s 50-day moving average is $49.27 and its two-hundred day moving average is $49.42. First Trust California Municipal High Income ETF has a 52-week low of $47.35 and a 52-week high of $50.13. The stock has a market capitalization of $207.57 million, a P/E ratio of 128.53 and a beta of 0.26.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in First Trust California Municipal High Income ETF by 2.6% during the fourth quarter. LPL Financial LLC now owns 872,810 shares of the financial services provider’s stock worth $43,036,000 after purchasing an additional 22,277 shares in the last quarter. NewEdge Advisors LLC raised its holdings in First Trust California Municipal High Income ETF by 4,304.3% during the fourth quarter. NewEdge Advisors LLC now owns 314,073 shares of the financial services provider’s stock worth $15,486,000 after purchasing an additional 306,942 shares in the last quarter. Royal Bank of Canada raised its holdings in First Trust California Municipal High Income ETF by 2.4% during the first quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock worth $6,321,000 after purchasing an additional 3,039 shares in the last quarter. Citizens Business Bank purchased a new position in First Trust California Municipal High Income ETF during the first quarter worth about $5,809,000. Finally, Jane Street Group LLC raised its holdings in First Trust California Municipal High Income ETF by 171.0% during the second quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock worth $4,267,000 after purchasing an additional 56,132 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.