First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 12-Month High – Time to Buy?

Shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high on Tuesday . The stock traded as high as $75.21 and last traded at $75.11, with a volume of 28428 shares trading hands. The stock had previously closed at $74.66.

First Trust Long/Short Equity ETF Price Performance

The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 21.59 and a beta of 0.50. The business’s 50-day moving average price is $74.24 and its two-hundred day moving average price is $72.37.

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

A number of institutional investors have recently modified their holdings of FTLS. Rossby Financial LCC grew its stake in First Trust Long/Short Equity ETF by 25.4% in the fourth quarter. Rossby Financial LCC now owns 869 shares of the company’s stock valued at $62,000 after purchasing an additional 176 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of First Trust Long/Short Equity ETF by 14.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,461 shares of the company’s stock worth $108,000 after acquiring an additional 185 shares in the last quarter. HBW Advisory Services LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 2.8% during the first quarter. HBW Advisory Services LLC now owns 6,840 shares of the company’s stock worth $481,000 after buying an additional 186 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of First Trust Long/Short Equity ETF by 2.6% during the third quarter. Hilltop Holdings Inc. now owns 7,855 shares of the company’s stock worth $549,000 after buying an additional 196 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its position in shares of First Trust Long/Short Equity ETF by 10.2% in the fourth quarter. J.Safra Asset Management Corp now owns 2,557 shares of the company’s stock valued at $182,000 after acquiring an additional 236 shares during the period.

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.