First Trust California Municipal High Income ETF (NASDAQ:FCAL) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

First Trust California Municipal High Income ETF (NASDAQ:FCAL)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $49.42 and traded as high as $50.09. First Trust California Municipal High Income ETF shares last traded at $49.65, with a volume of 25,007 shares.

First Trust California Municipal High Income ETF Stock Up 0.1%

The company has a market capitalization of $211.01 million, a PE ratio of 130.66 and a beta of 0.26. The firm has a 50-day moving average of $49.38 and a two-hundred day moving average of $49.42.

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 paid a dividend of $0.143 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. First Trust California Municipal High Income ETF’s dividend payout ratio is 431.58%.

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

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted 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 buying an additional 3,039 shares in the last quarter. NewEdge Advisors LLC purchased a new position in First Trust California Municipal High Income ETF in the second quarter valued at $467,000. Raymond James Financial Inc. acquired a new position in shares of First Trust California Municipal High Income ETF in the second quarter worth about $570,000. Jane Street Group LLC raised its position in shares of First Trust California Municipal High Income ETF by 171.0% in the second quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock worth $4,267,000 after acquiring an additional 56,132 shares during the period. Finally, CLG LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 62.8% during the 2nd quarter. CLG LLC now owns 7,080 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 2,732 shares in the last quarter. 54.39% of the stock is currently owned by institutional investors and hedge funds.

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.