Cambridge Investment Research Advisors Inc. Sells 1,632 Shares of First Trust California Municipal High Income ETF (NASDAQ:FCAL)

Cambridge Investment Research Advisors Inc. decreased its stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,682 shares of the financial services provider’s stock after selling 1,632 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.36% of First Trust California Municipal High Income ETF worth $955,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FCAL. Ameriflex Group Inc. purchased a new stake in First Trust California Municipal High Income ETF in the fourth quarter worth approximately $76,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of First Trust California Municipal High Income ETF in the 1st quarter worth approximately $200,000. CLG LLC bought a new stake in shares of First Trust California Municipal High Income ETF in the 1st quarter worth approximately $211,000. SeaCrest Wealth Management LLC purchased a new stake in shares of First Trust California Municipal High Income ETF in the 1st quarter valued at $221,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of First Trust California Municipal High Income ETF by 5.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,368 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

Shares of First Trust California Municipal High Income ETF stock opened at $47.95 on Friday. First Trust California Municipal High Income ETF has a 52-week low of $46.44 and a 52-week high of $50.54. The company’s 50 day moving average price is $47.99 and its 200-day moving average price is $48.65. The stock has a market capitalization of $285.27 million, a price-to-earnings ratio of 126.17 and a beta of 0.15.

First Trust California Municipal High Income ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a dividend of $0.132 per share. The ex-dividend date was Thursday, June 26th. This represents a $1.58 annualized dividend and a dividend yield of 3.30%. First Trust California Municipal High Income ETF’s payout ratio is presently 402.63%.

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.