First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 52-Week High – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $66.12 and last traded at $65.70, with a volume of 26009 shares trading hands. The stock had previously closed at $65.63.

First Trust Long/Short Equity ETF Stock Down 0.3 %

The stock’s 50 day moving average price is $64.35 and its 200-day moving average price is $63.05. The stock has a market capitalization of $1.31 billion, a P/E ratio of 19.46 and a beta of 0.62.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of FTLS. Atria Investments Inc purchased a new stake in First Trust Long/Short Equity ETF during the first quarter valued at approximately $1,089,000. Cetera Investment Advisers raised its holdings in shares of First Trust Long/Short Equity ETF by 557.2% in the first quarter. Cetera Investment Advisers now owns 283,043 shares of the company’s stock worth $17,452,000 after buying an additional 239,972 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of First Trust Long/Short Equity ETF by 61.7% in the first quarter. Cetera Advisors LLC now owns 27,941 shares of the company’s stock worth $1,723,000 after buying an additional 10,658 shares during the last quarter. Transcend Capital Advisors LLC purchased a new position in shares of First Trust Long/Short Equity ETF in the second quarter worth $204,000. Finally, GAMMA Investing LLC purchased a new position in shares of First Trust Long/Short Equity ETF in the second quarter worth $84,000.

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.