Miracle Mile Advisors LLC Increases Stake in First Trust California Municipal High Income ETF (NASDAQ:FCAL)

Miracle Mile Advisors LLC lifted its position in shares of First Trust California Municipal High Income ETF (NASDAQ:FCAL) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,909,177 shares of the financial services provider’s stock after buying an additional 114,040 shares during the period. First Trust California Municipal High Income ETF comprises 1.9% of Miracle Mile Advisors LLC’s investment portfolio, making the stock its 10th largest position. Miracle Mile Advisors LLC owned 34.40% of First Trust California Municipal High Income ETF worth $94,256,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in shares of First Trust California Municipal High Income ETF in the 3rd quarter valued at about $124,000. Johnson Bixby & Associates LLC purchased a new position in First Trust California Municipal High Income ETF in the 3rd quarter worth approximately $202,000. CreativeOne Wealth LLC bought a new stake in First Trust California Municipal High Income ETF in the third quarter valued at approximately $278,000. Perennial Investment Advisors LLC boosted its stake in shares of First Trust California Municipal High Income ETF by 4.0% during the second quarter. Perennial Investment Advisors LLC now owns 6,526 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 250 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings 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 worth $331,000 after purchasing an additional 1,783 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

First Trust California Municipal High Income ETF Stock Performance

NASDAQ:FCAL traded down $0.19 during midday trading on Monday, reaching $48.93. 34,651 shares of the stock traded hands, compared to its average volume of 22,293. The stock has a market capitalization of $271.56 million, a P/E ratio of 128.76 and a beta of 0.15. First Trust California Municipal High Income ETF has a 12 month low of $47.43 and a 12 month high of $50.54. The company has a fifty day moving average of $49.73 and a 200 day moving average of $49.85.

First Trust California Municipal High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.1275 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.53 annualized dividend and a dividend yield of 3.13%. First Trust California Municipal High Income ETF’s payout ratio is presently 386.84%.

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.