First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Time to Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.79 and last traded at $74.15, with a volume of 5573 shares changing hands. The stock had previously closed at $73.88.

First Trust Long/Short Equity ETF Stock Performance

The stock has a market cap of $2.29 billion, a P/E ratio of 21.59 and a beta of 0.51. The stock’s fifty day simple moving average is $71.21 and its 200-day simple moving average is $71.11.

Institutional Trading of First Trust Long/Short Equity ETF

A number of institutional investors have recently bought and sold shares of FTLS. Root Financial Partners LLC bought a new stake in First Trust Long/Short Equity ETF in the 3rd quarter valued at about $25,000. GPS Wealth Strategies Group LLC raised its position in shares of First Trust Long/Short Equity ETF by 87.3% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 399 shares of the company’s stock valued at $28,000 after buying an additional 186 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of First Trust Long/Short Equity ETF in the 3rd quarter valued at approximately $28,000. Tidemark LLC acquired a new position in shares of First Trust Long/Short Equity ETF in the 4th quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp raised its position in shares of First Trust Long/Short Equity ETF by 1,462.5% in the 1st quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock valued at $30,000 after buying an additional 468 shares in the last quarter.

About First Trust Long/Short Equity ETF

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.