First Trust California Municipal High Income ETF (NASDAQ:FCAL) Sees Large Decline in Short Interest

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 23,353 shares, a decrease of 41.6% from the July 30th total of 40,002 shares. Based on an average trading volume of 20,021 shares, the short-interest ratio is presently 1.2 days. Currently, 0.5% of the company’s stock are sold short.

First Trust California Municipal High Income ETF Stock Down 0.1%

FCAL traded down $0.05 during trading on Monday, hitting $48.32. The company had a trading volume of 16,038 shares, compared to its average volume of 19,789. The company has a market capitalization of $217.44 million, a PE ratio of 127.16 and a beta of 0.25. First Trust California Municipal High Income ETF has a one year low of $47.65 and a one year high of $50.13. The firm’s 50-day moving average price is $49.07 and its 200 day moving average price is $49.30.

First Trust California Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a $0.144 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 3.6%. 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 (DPR) is 439.47%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Triumph Capital Management bought a new position in shares of First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $25,000. Fifth Third Bancorp acquired a new position in First Trust California Municipal High Income ETF during the first quarter worth $47,000. Comerica Bank bought a new position in First Trust California Municipal High Income ETF in the third quarter valued at $48,000. Arax Advisory Partners bought a new position in First Trust California Municipal High Income ETF in the fourth quarter valued at $59,000. Finally, Kestra Advisory Services LLC acquired a new stake in First Trust California Municipal High Income ETF in the 4th quarter valued at $70,000. 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.