First Trust California Municipal High Income ETF (FCAL) Short Interest Ratio & Short Volume

Short interest is the volume of First Trust California Municipal High Income ETF shares that have been sold short but have not yet been closed out or covered. As of March 31st, investors have sold 52,100 shares of FCAL short. Learn More on First Trust California Municipal High Income ETF's current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. FCAL shares currently have a short interest ratio of 2.0. Learn More on First Trust California Municipal High Income ETF's short interest ratio.

First Trust California Municipal High Income ETF saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 52,100 shares, an increase of 53.2% from the previous total of 34,000 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

Here is how the short interest of companies compare to First Trust California Municipal High Income ETF: BlackRock Short-Term California Muni Bond ETF (0.95%), First Trust Municipal High Income ETF (0.18%), and First Trust Managed Municipal ETF (0.18%).

As of the most recent reporting period, the following stocks had the largest short interest positions: TC Energy Co. ($4.49 billion), T-Mobile US, Inc. ($3.94 billion), General Motors ($3.34 billion), Charter Communications, Inc. ($3.32 billion), Occidental Petroleum Co. ($3.21 billion), Super Micro Computer, Inc. ($3.13 billion), Coinbase Global, Inc. ($3.08 billion), Moderna, Inc. ($2.28 billion), Tractor Supply ($2.24 billion), and Royal Caribbean Cruises Ltd. ($2.14 billion). View all of the most shorted stocks.

Short selling FCAL is an investing strategy that aims to generate trading profit from First Trust California Municipal High Income ETF as its price is falling. FCAL shares are trading down $0.03 today. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for First Trust California Municipal High Income ETF occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of FCAL, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including FCAL, twice per month. The most recent reporting period available is March, 31 2024.