Smith Chas P & Associates PA Cpas Takes Position in First Trust California Municipal High Income ETF $FCAL

Smith Chas P & Associates PA Cpas purchased a new stake in shares of First Trust California Municipal High Income ETF (NASDAQ:FCAL) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,373,953 shares of the financial services provider’s stock, valued at approximately $117,872,000. First Trust California Municipal High Income ETF makes up 5.7% of Smith Chas P & Associates PA Cpas’ investment portfolio, making the stock its 3rd largest position. Smith Chas P & Associates PA Cpas owned approximately 52.75% of First Trust California Municipal High Income ETF at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in shares of First Trust California Municipal High Income ETF during the second quarter worth about $25,000. Fifth Third Bancorp purchased a new position in First Trust California Municipal High Income ETF in the first quarter valued at about $47,000. Comerica Bank purchased a new position in First Trust California Municipal High Income ETF in the third quarter valued at about $48,000. Arax Advisory Partners acquired a new stake in First Trust California Municipal High Income ETF during the 4th quarter valued at approximately $59,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of First Trust California Municipal High Income ETF during the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

Shares of FCAL stock traded up $0.17 during mid-day trading on Friday, reaching $47.52. 17,394 shares of the company were exchanged, compared to its average volume of 20,453. The business’s 50 day simple moving average is $48.76 and its 200 day simple moving average is $49.18. The company has a market capitalization of $213.82 million, a P/E ratio of 125.04 and a beta of 0.25. First Trust California Municipal High Income ETF has a fifty-two week low of $47.31 and a fifty-two week high of $50.13.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a $0.144 dividend. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 21st. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. First Trust California Municipal High Income ETF’s payout ratio is presently 439.47%.

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.