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

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,100 shares, a decline of 93.0% from the December 31st total of 44,000 shares. Based on an average daily trading volume, of 24,300 shares, the days-to-cover ratio is presently 0.1 days.

First Trust California Municipal High Income ETF Price Performance

Shares of NASDAQ:FCAL opened at $49.44 on Wednesday. First Trust California Municipal High Income ETF has a 52-week low of $48.26 and a 52-week high of $50.54. The stock has a market cap of $274.39 million, a price-to-earnings ratio of 130.11 and a beta of 0.15. The business has a 50-day moving average price of $49.61 and a 200-day moving average price of $49.82.

First Trust California Municipal High Income ETF Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be paid a $0.129 dividend. The ex-dividend date is Wednesday, January 22nd. First Trust California Municipal High Income ETF’s payout ratio is 389.47%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of First Trust California Municipal High Income ETF in the third quarter worth approximately $124,000. Johnson Bixby & Associates LLC acquired a new stake in First Trust California Municipal High Income ETF during the 3rd quarter worth $202,000. CreativeOne Wealth LLC purchased a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth $278,000. Wealth Enhancement Advisory Services LLC raised its position in shares of First Trust California Municipal High Income ETF by 37.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,606 shares of the financial services provider’s stock valued at $331,000 after buying an additional 1,783 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of First Trust California Municipal High Income ETF in the fourth quarter valued at about $357,000. 54.39% of the stock is owned by institutional investors and hedge funds.

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.