First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Here’s Why

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $72.70 and last traded at $72.57, with a volume of 63792 shares traded. The stock had previously closed at $72.41.

First Trust Long/Short Equity ETF Trading Up 0.2%

The business’s fifty day moving average price is $70.85 and its 200 day moving average price is $70.88. The company has a market capitalization of $2.24 billion, a P/E ratio of 21.59 and a beta of 0.51.

Institutional Investors Weigh In On First Trust Long/Short Equity ETF

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of First Trust Long/Short Equity ETF by 22.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 114,314 shares of the company’s stock worth $7,996,000 after purchasing an additional 20,793 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of First Trust Long/Short Equity ETF by 1.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 588,279 shares of the company’s stock worth $41,150,000 after purchasing an additional 8,523 shares in the last quarter. World Equity Group Inc. increased its position in shares of First Trust Long/Short Equity ETF by 9.8% during the 3rd quarter. World Equity Group Inc. now owns 287,710 shares of the company’s stock worth $20,125,000 after purchasing an additional 25,744 shares in the last quarter. Center For Asset Management LLC acquired a new stake in shares of First Trust Long/Short Equity ETF during the 4th quarter worth about $2,965,000. Finally, Kingswood Wealth Advisors LLC increased its position in shares of First Trust Long/Short Equity ETF by 66.6% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 113,163 shares of the company’s stock worth $7,916,000 after purchasing an additional 45,234 shares in the last quarter.

First Trust Long/Short Equity ETF Company 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.