First Trust California Municipal High Income ETF (NASDAQ:FCAL) Short Interest Down 31.3% in November

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 22,200 shares, a drop of 31.3% from the November 15th total of 32,300 shares. Based on an average trading volume of 17,700 shares, the short-interest ratio is currently 1.3 days.

First Trust California Municipal High Income ETF Stock Performance

Shares of First Trust California Municipal High Income ETF stock traded up $0.07 on Friday, hitting $49.94. The company’s stock had a trading volume of 27,277 shares, compared to its average volume of 23,351. The company has a market capitalization of $262.19 million, a price-to-earnings ratio of 131.42 and a beta of 0.15. First Trust California Municipal High Income ETF has a 1 year low of $47.43 and a 1 year high of $51.97. The firm has a fifty day moving average price of $49.91 and a 200-day moving average price of $49.86.

First Trust California Municipal High Income ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.1275 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, December 13th. First Trust California Municipal High Income ETF’s dividend payout ratio (DPR) is presently 386.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in First Trust California Municipal High Income ETF by 14.2% in the 2nd quarter. LPL Financial LLC now owns 664,470 shares of the financial services provider’s stock worth $32,905,000 after acquiring an additional 82,860 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of First Trust California Municipal High Income ETF by 4.5% in the third quarter. Miracle Mile Advisors LLC now owns 1,795,137 shares of the financial services provider’s stock valued at $90,080,000 after purchasing an additional 77,896 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth about $1,004,000. Blue Zone Wealth Advisors LLC acquired a new position in shares of First Trust California Municipal High Income ETF during the 3rd quarter worth about $742,000. Finally, Townsquare Capital LLC purchased a new position in First Trust California Municipal High Income ETF in the 3rd quarter valued at about $406,000. Hedge funds and other institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Company Profile

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.