First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 12-Month High – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.64 and last traded at $64.59, with a volume of 10861 shares. The stock had previously closed at $64.55.

First Trust Long/Short Equity ETF Trading Down 0.2 %

The firm’s fifty day simple moving average is $62.94 and its 200 day simple moving average is $62.07. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 19.46 and a beta of 0.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FTLS. UMB Bank n.a. purchased a new stake in First Trust Long/Short Equity ETF in the third quarter valued at $35,000. NBC Securities Inc. boosted its position in shares of First Trust Long/Short Equity ETF by 184.2% in the 3rd quarter. NBC Securities Inc. now owns 807 shares of the company’s stock valued at $51,000 after purchasing an additional 523 shares during the period. GAMMA Investing LLC purchased a new position in First Trust Long/Short Equity ETF during the 2nd quarter worth approximately $84,000. Concourse Financial Group Securities Inc. increased its position in First Trust Long/Short Equity ETF by 248,800.0% during the first quarter. Concourse Financial Group Securities Inc. now owns 2,489 shares of the company’s stock worth $153,000 after buying an additional 2,488 shares during the period. Finally, Larson Financial Group LLC lifted its stake in First Trust Long/Short Equity ETF by 44.2% in the second quarter. Larson Financial Group LLC now owns 2,560 shares of the company’s stock valued at $160,000 after buying an additional 785 shares during 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.