First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Still a Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $72.20 and last traded at $71.75, with a volume of 46548 shares. The stock had previously closed at $71.76.

First Trust Long/Short Equity ETF Trading Down 0.0%

The business has a fifty day simple moving average of $70.91 and a 200 day simple moving average of $68.58. The stock has a market capitalization of $2.09 billion, a P/E ratio of 21.59 and a beta of 0.48.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTLS. Root Financial Partners LLC purchased a new position in First Trust Long/Short Equity ETF during the 3rd quarter valued at about $25,000. Creekmur Asset Management LLC bought a new position in First Trust Long/Short Equity ETF in the 2nd quarter worth about $27,000. GPS Wealth Strategies Group LLC increased its stake in First Trust Long/Short Equity ETF by 87.3% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 399 shares of the company’s stock worth $28,000 after acquiring an additional 186 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of First Trust Long/Short Equity ETF in the 3rd quarter valued at about $28,000. Finally, Jones Financial Companies Lllp boosted its position in shares of First Trust Long/Short Equity ETF by 1,462.5% during the 1st quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock valued at $30,000 after acquiring an additional 468 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.