First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Trading Down 0.4% – Should You Sell?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares traded down 0.4% on Friday . The company traded as low as $76.32 and last traded at $76.46. Approximately 77,214 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 116,268 shares. The stock had previously closed at $76.78.

First Trust Long/Short Equity ETF Price Performance

The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 21.59 and a beta of 0.50. The stock has a 50-day moving average price of $75.08 and a 200 day moving average price of $73.25.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of First Trust Long/Short Equity ETF by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,337 shares of the company’s stock valued at $470,000 after acquiring an additional 1,803 shares during the period. Jones Financial Companies Lllp boosted its stake in First Trust Long/Short Equity ETF by 1,462.5% during the 1st quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 468 shares during the period. Focus Partners Wealth boosted its stake in First Trust Long/Short Equity ETF by 6.6% during the 1st quarter. Focus Partners Wealth now owns 22,906 shares of the company’s stock worth $1,468,000 after purchasing an additional 1,414 shares during the period. Cerity Partners LLC grew its position in First Trust Long/Short Equity ETF by 57.7% during the 2nd quarter. Cerity Partners LLC now owns 55,304 shares of the company’s stock worth $3,666,000 after purchasing an additional 20,225 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in First Trust Long/Short Equity ETF in the second quarter valued at $344,000.

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.