Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Decreases By 13.5%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,200 shares, a decline of 13.5% from the January 15th total of 3,700 shares. Based on an average daily trading volume, of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCAL. Miracle Mile Advisors LLC increased its position 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 valued at $94,256,000 after purchasing an additional 114,040 shares during the period. OLD Mission Capital LLC purchased a new position in First Trust California Municipal High Income ETF during the 4th quarter valued at $2,068,000. Guggenheim Capital LLC grew its position in shares of First Trust California Municipal High Income ETF by 248.7% in the 4th quarter. Guggenheim Capital LLC now owns 57,315 shares of the financial services provider’s stock worth $2,830,000 after buying an additional 40,880 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of First Trust California Municipal High Income ETF in the 4th quarter worth about $1,741,000. Finally, Citizens Business Bank grew its position in shares of First Trust California Municipal High Income ETF by 35.8% in the 4th quarter. Citizens Business Bank now owns 128,886 shares of the financial services provider’s stock worth $6,363,000 after buying an additional 33,958 shares during the period. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Trading Up 0.1 %

Shares of First Trust California Municipal High Income ETF stock opened at $49.29 on Tuesday. The company’s fifty day simple moving average is $49.39 and its two-hundred day simple moving average is $49.79. The company has a market cap of $271.10 million, a P/E ratio of 129.71 and a beta of 0.15. First Trust California Municipal High Income ETF has a 12-month low of $48.26 and a 12-month high of $50.54.

First Trust California Municipal High Income ETF Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were given a dividend of $0.129 per share. The ex-dividend date of this dividend was Wednesday, January 22nd. First Trust California Municipal High Income ETF’s payout ratio is currently 389.47%.

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.