First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 52-Week High – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares hit a new 52-week high on Tuesday . The company traded as high as $75.09 and last traded at $74.99, with a volume of 31637 shares traded. The stock had previously closed at $74.73.

First Trust Long/Short Equity ETF Trading Up 0.2%

The stock’s 50 day moving average price is $73.43 and its two-hundred day moving average price is $71.85. The firm has a market capitalization of $2.32 billion, a PE ratio of 21.59 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Rossby Financial LCC increased its stake in shares of First Trust Long/Short Equity ETF by 25.4% during the 4th quarter. Rossby Financial LCC now owns 869 shares of the company’s stock worth $62,000 after purchasing an additional 176 shares in the last quarter. HBW Advisory Services LLC grew its stake in First Trust Long/Short Equity ETF by 2.8% in the 1st quarter. HBW Advisory Services LLC now owns 6,840 shares of the company’s stock worth $481,000 after acquiring an additional 186 shares during the period. Hilltop Holdings Inc. grew its stake in First Trust Long/Short Equity ETF by 2.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,855 shares of the company’s stock worth $549,000 after acquiring an additional 196 shares during the period. J.Safra Asset Management Corp grew its stake in First Trust Long/Short Equity ETF by 10.2% in the 4th quarter. J.Safra Asset Management Corp now owns 2,557 shares of the company’s stock worth $182,000 after acquiring an additional 236 shares during the period. Finally, Sigma Planning Corp grew its stake in First Trust Long/Short Equity ETF by 0.6% in the 1st quarter. Sigma Planning Corp now owns 38,410 shares of the company’s stock worth $2,702,000 after acquiring an additional 240 shares during the period.

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.