Statistics of Price Movements of California Municipal High Income ETF FT (FCAL)

The price movements of California Municipal High Income ETF FT (ticker FCAL) are summarized in five ways:

  • Table 1. Statistics of daily price changes using the closing prices
  • Table 2. Statistics of daily price changes using the closing and opening prices
  • Table 3 – 7. Statistics of daily price changes when FCAL opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
  • Table 8 – 10. Statistics of stock price changes in the 20 days after FCAL had a big price move
  • Table 11. Statistics of daily price changes in the 20 days after FCAL moved 5% with twice the 30-day average volume

The statistics are calculated using FCAL's price data across 898 trading days from 2017 to 2020.

Table 1. Statistics of FCAL one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 898 trading days, 45.8% of the time (411 days), FCAL closed above the previous day's closing price. 37.1% of the time (333 days), it closed below the previous day's closing price. 17.1% of the time (153 days), it did not change.

Also see: VIX price movement study.

FCAL Price Change (%) Number of Days % of Total Sessions
4 – 5% 1
0.11%
3 – 4% 1
0.11%
1 – 2% 3
0.33%
0 – 1% 406
45.26%
0% 153
17.06%
0 – -1% 325
36.23%
-1 – -2% 4
0.45%
-3 – -4% 3
0.33%
-4 – -5% 1
0.11%

Table 2. Statistics of FCAL: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of FCAL.

30.4% of the time (273 days), FCAL closed above the opening price. 39.5% of the time (355 days), it closed below the opening price. 30.1% of the time (270 days), it closed where it started.

Closing - Open (%) Number of Days % of Total Sessions
5 – 6% 1
0.11%
2 – 3% 3
0.33%
1 – 2% 1
0.11%
0 – 1% 268
29.84%
0% 270
30.07%
0 – -1% 344
38.31%
-1 – -2% 10
1.11%
-2 – -3% 1
0.11%

Table 3. One-day performance when FCAL opened 5% higher than previous close

In the past 898 trading days, FCAL opened more than 5% higher than the previous day's closing price 0 times. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 4. Closing vs. open when FCAL opened 4–5% higher

On 0 days, FCAL opened 4–5% higher than the previous day's closing price. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 5. Closing vs. open when FCAL open 3 – 4% higher

0 times FCAL opened 3 – 4% higher than the previous day's closing price. Among these days, NaN% (0 days) closed above the opening price, NaN% (0 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 6. Closing vs. open when FCAL open 2 – 3% higher

0 times FCAL opened 2 – 3% higher than the previous day's closing price. Among these days, NaN% (0 days) closed above the opening price, NaN% (0 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 7. Closing vs. open when FCAL open 1 – 2% higher

11 times FCAL opened 1 – 2% higher than the previous day's closing price. Among these days, 18.2% (2 days) closed above the opening price, 72.7% (8 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions
2 – 3% 1
9.09%
0 – 1% 1
9.09%
0% 1
9.09%
0 – -1% 5
45.45%
-1 – -2% 3
27.27%

Table 8. Periods when FCAL moved 15% or more

In this table, we track the price movements in the 20 days after FCAL had a one-day price change of at least 15%.

DatePrice ChangePrice Change after 15% Move
Days after:14710131619

Table 9. Periods when FCAL moved 10% or more

In this table, we track the price movements in the 20 days after FCAL had a one-day price change of at least 10%.

DatePrice ChangePrice Change after 10% Move
Days after:14710131619

Table 10. Periods when FCAL moved 5% or more

In this table, we track the price movements in the 20 days after FCAL had a one-day price change of at least 5%.

DatePrice ChangePrice Change after 5% Move
Days after:14710131619

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Also see: VIX price movement study.