First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 12-Month High – Still a Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $68.00 and last traded at $67.98, with a volume of 25193 shares changing hands. The stock had previously closed at $67.61.

First Trust Long/Short Equity ETF Stock Performance

The company has a market capitalization of $1.35 billion, a P/E ratio of 19.46 and a beta of 0.62. The stock has a fifty day moving average of $66.47 and a 200 day moving average of $64.38.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. UMB Bank n.a. bought a new position in shares of First Trust Long/Short Equity ETF during the 3rd quarter valued at approximately $35,000. NBC Securities Inc. increased its position in First Trust Long/Short Equity ETF by 184.2% during the third quarter. NBC Securities Inc. now owns 807 shares of the company’s stock valued at $51,000 after acquiring an additional 523 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Trust Long/Short Equity ETF in the third quarter valued at $75,000. GAMMA Investing LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 26.2% in the 4th quarter. GAMMA Investing LLC now owns 1,700 shares of the company’s stock worth $112,000 after acquiring an additional 353 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new position in shares of First Trust Long/Short Equity ETF during the 2nd quarter worth about $203,000.

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.