Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Drops By 51.1%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 12,380 shares, a drop of 51.1% from the May 14th total of 25,326 shares. Based on an average trading volume of 31,549 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the shares of the stock are short sold.

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL traded up $0.02 on Monday, hitting $49.51. The company’s stock had a trading volume of 11,490 shares, compared to its average volume of 20,994. The company has a 50-day simple moving average of $49.32 and a 200 day simple moving average of $49.41. First Trust California Municipal High Income ETF has a 1 year low of $47.35 and a 1 year high of $50.13. The company has a market capitalization of $210.42 million, a PE ratio of 130.29 and a beta of 0.26.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were given a dividend of $0.143 per share. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. The ex-dividend date was Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 3.5%. First Trust California Municipal High Income ETF’s dividend payout ratio is currently 431.58%.

Hedge Funds Weigh In On First Trust California Municipal High Income ETF

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC increased its position in shares of First Trust California Municipal High Income ETF by 2.6% during the 4th quarter. LPL Financial LLC now owns 872,810 shares of the financial services provider’s stock valued at $43,036,000 after purchasing an additional 22,277 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of First Trust California Municipal High Income ETF by 4,304.3% during the 4th quarter. NewEdge Advisors LLC now owns 314,073 shares of the financial services provider’s stock valued at $15,486,000 after purchasing an additional 306,942 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Trust California Municipal High Income ETF by 2.4% during the 1st quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock valued at $6,321,000 after purchasing an additional 3,039 shares during the last quarter. Citizens Business Bank bought a new position in shares of First Trust California Municipal High Income ETF during the 1st quarter valued at about $5,809,000. Finally, Jane Street Group LLC increased its position in shares of First Trust California Municipal High Income ETF by 171.0% during the 2nd quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock valued at $4,267,000 after purchasing an additional 56,132 shares during the last quarter. 54.39% of the stock is currently owned by 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.