Cardinal Point Capital Management ULC Lowers Stock Position in First Trust Long/Short Equity ETF $FTLS

Cardinal Point Capital Management ULC cut its position in shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,969 shares of the company’s stock after selling 5,195 shares during the period. Cardinal Point Capital Management ULC owned 0.40% of First Trust Long/Short Equity ETF worth $7,885,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meadow Creek Wealth Advisors LLC boosted its holdings in First Trust Long/Short Equity ETF by 6.3% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 13,319 shares of the company’s stock worth $883,000 after buying an additional 787 shares in the last quarter. Parcion Private Wealth LLC boosted its holdings in First Trust Long/Short Equity ETF by 10.6% during the second quarter. Parcion Private Wealth LLC now owns 16,182 shares of the company’s stock worth $1,073,000 after buying an additional 1,549 shares in the last quarter. TFB Advisors LLC boosted its holdings in First Trust Long/Short Equity ETF by 26.4% during the second quarter. TFB Advisors LLC now owns 7,102 shares of the company’s stock worth $471,000 after buying an additional 1,482 shares in the last quarter. IMG Wealth Management Inc. boosted its holdings in First Trust Long/Short Equity ETF by 9.4% during the second quarter. IMG Wealth Management Inc. now owns 71,719 shares of the company’s stock worth $4,754,000 after buying an additional 6,162 shares in the last quarter. Finally, Balboa Wealth Partners boosted its holdings in First Trust Long/Short Equity ETF by 189.1% during the second quarter. Balboa Wealth Partners now owns 9,938 shares of the company’s stock worth $659,000 after buying an additional 6,500 shares in the last quarter.

First Trust Long/Short Equity ETF Stock Performance

Shares of NYSEARCA FTLS opened at $69.70 on Friday. The company’s fifty day moving average price is $68.77 and its 200 day moving average price is $66.31. The company has a market capitalization of $2.01 billion, a PE ratio of 21.59 and a beta of 0.51. First Trust Long/Short Equity ETF has a 1 year low of $58.90 and a 1 year high of $70.49.

First Trust Long/Short Equity ETF Profile

The First Trust Long\u002FShort Equity ETF (FTLS) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund takes both long and short position in US-listed equity with US and foreign exposure. The actively managed funds will typically be 90-100% long and 0-50% short. FTLS was launched on Sep 9, 2014 and is managed by First Trust.