First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $76.83 and traded as high as $77.36. First Trust Long/Short Equity ETF shares last traded at $77.18, with a volume of 142,932 shares traded.

First Trust Long/Short Equity ETF Price Performance

The company’s 50 day moving average is $76.83 and its two-hundred day moving average is $73.80. The firm has a market cap of $2.64 billion, a P/E ratio of 21.59 and a beta of 0.50.

Hedge Funds Weigh In On First Trust Long/Short Equity ETF

Large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of First Trust Long/Short Equity ETF in the 3rd quarter worth approximately $3,129,000. Flagship Harbor Advisors LLC increased its position in shares of First Trust Long/Short Equity ETF by 73.3% during the third quarter. Flagship Harbor Advisors LLC now owns 11,237 shares of the company’s stock valued at $862,000 after purchasing an additional 4,752 shares during the period. Live Oak Investment Partners increased its position in shares of First Trust Long/Short Equity ETF by 0.6% during the third quarter. Live Oak Investment Partners now owns 95,075 shares of the company’s stock valued at $7,291,000 after purchasing an additional 562 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of First Trust Long/Short Equity ETF by 3.2% in the third quarter. Kingswood Wealth Advisors LLC now owns 108,617 shares of the company’s stock valued at $8,330,000 after purchasing an additional 3,346 shares in the last quarter. Finally, Sigma Planning Corp acquired a new position in shares of First Trust Long/Short Equity ETF in the third quarter valued at $2,704,000.

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.