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

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $68.67 and last traded at $68.67, with a volume of 726 shares. The stock had previously closed at $66.90.

First Trust Long/Short Equity ETF Price Performance

The company has a fifty day moving average of $65.33 and a 200 day moving average of $63.61. The firm has a market capitalization of $1.34 billion, a P/E ratio of 19.46 and a beta of 0.62.

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

Several institutional investors have recently added to or reduced their stakes in FTLS. Brookstone Capital Management acquired a new position in First Trust Long/Short Equity ETF in the second quarter valued at approximately $414,000. Raymond James & Associates lifted its stake in First Trust Long/Short Equity ETF by 4.8% in the second quarter. Raymond James & Associates now owns 23,864 shares of the company’s stock valued at $1,494,000 after buying an additional 1,090 shares during the period. Atria Wealth Solutions Inc. lifted its stake in First Trust Long/Short Equity ETF by 17.4% in the second quarter. Atria Wealth Solutions Inc. now owns 53,952 shares of the company’s stock valued at $3,377,000 after buying an additional 7,978 shares during the period. EdgeRock Capital LLC acquired a new position in shares of First Trust Long/Short Equity ETF during the second quarter worth approximately $5,525,000. Finally, Raymond James Trust N.A. raised its position in shares of First Trust Long/Short Equity ETF by 27.3% during the second quarter. Raymond James Trust N.A. now owns 19,988 shares of the company’s stock worth $1,251,000 after purchasing an additional 4,283 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.