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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,400 shares, a growth of 88.9% from the February 28th total of 1,800 shares. Based on an average trading volume of 23,400 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

First Trust California Municipal High Income ETF Stock Performance

Shares of NASDAQ:FCAL traded down $0.07 during trading on Friday, reaching $48.62. 5,327 shares of the stock were exchanged, compared to its average volume of 21,148. First Trust California Municipal High Income ETF has a 12-month low of $48.20 and a 12-month high of $50.54. The firm’s 50-day moving average price is $49.33 and its 200 day moving average price is $49.66. The firm has a market cap of $267.38 million, a price-to-earnings ratio of 127.93 and a beta of 0.15.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be issued a dividend of $0.129 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.55 annualized dividend and a dividend yield of 3.18%. First Trust California Municipal High Income ETF’s payout ratio is 360.53%.

Institutional Investors Weigh In On First Trust California Municipal High Income ETF

Hedge funds have recently modified their holdings of the stock. Miracle Mile Advisors LLC increased its holdings in First Trust California Municipal High Income ETF by 6.4% during the 4th quarter. Miracle Mile Advisors LLC now owns 1,909,177 shares of the financial services provider’s stock worth $94,256,000 after purchasing an additional 114,040 shares during the last quarter. OLD Mission Capital LLC bought a new position in shares of First Trust California Municipal High Income ETF during the fourth quarter worth about $2,068,000. Guggenheim Capital LLC boosted its stake in First Trust California Municipal High Income ETF by 248.7% during the 4th quarter. Guggenheim Capital LLC now owns 57,315 shares of the financial services provider’s stock valued at $2,830,000 after purchasing an additional 40,880 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of First Trust California Municipal High Income ETF in the fourth quarter valued at approximately $1,741,000. Finally, Citizens Business Bank raised its holdings in shares of First Trust California Municipal High Income ETF by 35.8% during the fourth quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock valued at $6,363,000 after buying an additional 33,958 shares during the last quarter. 54.39% of the stock is currently 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.