First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 1-Year High – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $75.12 and last traded at $75.12, with a volume of 2730 shares changing hands. The stock had previously closed at $74.62.

First Trust Long/Short Equity ETF Price Performance

The stock has a market cap of $2.46 billion, a P/E ratio of 21.59 and a beta of 0.50. The company has a fifty day moving average price of $74.17 and a 200 day moving average price of $72.27.

Institutional Trading of First Trust Long/Short Equity ETF

Hedge funds have recently bought and sold shares of the business. Morgan Stanley raised its holdings in First Trust Long/Short Equity ETF by 1.5% during the fourth quarter. Morgan Stanley now owns 5,252,510 shares of the company’s stock worth $372,876,000 after buying an additional 78,397 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Trust Long/Short Equity ETF by 2.2% during the first quarter. Royal Bank of Canada now owns 2,606,322 shares of the company’s stock worth $183,381,000 after acquiring an additional 57,245 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of First Trust Long/Short Equity ETF by 10.6% during the second quarter. Ameriprise Financial Inc. now owns 2,417,461 shares of the company’s stock worth $160,161,000 after acquiring an additional 231,155 shares in the last quarter. LPL Financial LLC increased its position in shares of First Trust Long/Short Equity ETF by 6.7% during the fourth quarter. LPL Financial LLC now owns 2,397,528 shares of the company’s stock worth $170,200,000 after acquiring an additional 149,648 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of First Trust Long/Short Equity ETF by 45.2% in the 2nd quarter. Raymond James Financial Inc. now owns 673,403 shares of the company’s stock worth $44,633,000 after acquiring an additional 209,579 shares during the last quarter.

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.