IFP Advisors Inc Purchases New Holdings in First Trust California Municipal High Income ETF $FCAL

IFP Advisors Inc acquired a new stake in shares of First Trust California Municipal High Income ETF (NASDAQ:FCAL) in the second quarter, HoldingsChannel reports. The fund acquired 41,730 shares of the financial services provider’s stock, valued at approximately $2,072,000.

Other hedge funds have also recently bought and sold shares of the company. Triumph Capital Management purchased a new stake in First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $25,000. Fifth Third Bancorp purchased a new position in shares of First Trust California Municipal High Income ETF during the 1st quarter valued at approximately $47,000. Comerica Bank acquired a new stake in shares of First Trust California Municipal High Income ETF during the third quarter worth approximately $48,000. Arax Advisory Partners acquired a new stake in shares of First Trust California Municipal High Income ETF during the fourth quarter worth approximately $59,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of First Trust California Municipal High Income ETF in the fourth quarter worth $70,000. Institutional investors and hedge funds own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

FCAL opened at $47.52 on Friday. The company has a market capitalization of $213.82 million, a P/E ratio of 125.04 and a beta of 0.25. The company has a 50-day moving average of $48.72 and a 200-day moving average of $49.17. First Trust California Municipal High Income ETF has a 1-year low of $47.31 and a 1-year high of $50.13.

First Trust California Municipal High Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a dividend of $0.144 per share. This is a boost from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, August 21st. First Trust California Municipal High Income ETF’s payout ratio is presently 439.47%.

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.