Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Decreases By 16.7%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 8,050 shares, a drop of 16.7% from the March 15th total of 9,665 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 18,013 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FCAL. Royal Bank of Canada boosted its stake in 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 worth $6,321,000 after acquiring an additional 3,039 shares during the last quarter. NewEdge Advisors LLC bought a new position in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $467,000. Raymond James Financial Inc. bought a new position in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $570,000. Jane Street Group LLC boosted its stake in 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 worth $4,267,000 after acquiring an additional 56,132 shares during the last quarter. Finally, CLG LLC boosted its stake in 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 during the last quarter. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Trading Up 0.4%

Shares of NASDAQ FCAL opened at $49.57 on Friday. The firm has a market capitalization of $210.67 million, a PE ratio of 130.45 and a beta of 0.27. First Trust California Municipal High Income ETF has a 1 year low of $47.23 and a 1 year high of $50.13. The firm’s 50-day moving average is $49.50 and its 200-day moving average is $49.38.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.141 dividend. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, March 26th. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is 426.32%.

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.