First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 12-Month High – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.92 and last traded at $67.22, with a volume of 10384 shares traded. The stock had previously closed at $67.01.

First Trust Long/Short Equity ETF Price Performance

The company’s fifty day simple moving average is $65.96 and its 200-day simple moving average is $64.06. The firm has a market capitalization of $1.33 billion, a PE ratio of 19.46 and a beta of 0.62.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meadow Creek Wealth Advisors LLC increased its holdings in shares of First Trust Long/Short Equity ETF by 1.7% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 9,699 shares of the company’s stock valued at $616,000 after acquiring an additional 165 shares in the last quarter. Moors & Cabot Inc. grew its position in First Trust Long/Short Equity ETF by 4.6% during the 3rd quarter. Moors & Cabot Inc. now owns 5,214 shares of the company’s stock worth $331,000 after purchasing an additional 228 shares during the last quarter. GAMMA Investing LLC increased its stake in First Trust Long/Short Equity ETF by 26.2% during the 4th quarter. GAMMA Investing LLC now owns 1,700 shares of the company’s stock valued at $112,000 after purchasing an additional 353 shares in the last quarter. Prospera Financial Services Inc increased its stake in First Trust Long/Short Equity ETF by 4.2% during the 3rd quarter. Prospera Financial Services Inc now owns 11,656 shares of the company’s stock valued at $741,000 after purchasing an additional 474 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of First Trust Long/Short Equity ETF by 2.4% in the third quarter. Raymond James Trust N.A. now owns 20,465 shares of the company’s stock worth $1,299,000 after buying an additional 477 shares during the last quarter.

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.