Sage Mountain Advisors LLC Invests $201,000 in First Trust Long/Short Equity ETF $FTLS

Sage Mountain Advisors LLC purchased a new position in First Trust Long/Short Equity ETF (NYSEARCA:FTLS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,040 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently modified their holdings of the business. Meadow Creek Wealth Advisors LLC lifted its position in shares of First Trust Long/Short Equity ETF by 6.3% in the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 13,319 shares of the company’s stock worth $883,000 after purchasing an additional 787 shares during the period. Parcion Private Wealth LLC lifted its position in shares of First Trust Long/Short Equity ETF by 10.6% in the 2nd quarter. Parcion Private Wealth LLC now owns 16,182 shares of the company’s stock worth $1,073,000 after purchasing an additional 1,549 shares during the period. TFB Advisors LLC lifted its position in shares of First Trust Long/Short Equity ETF by 26.4% in the 2nd quarter. TFB Advisors LLC now owns 7,102 shares of the company’s stock worth $471,000 after purchasing an additional 1,482 shares during the period. IMG Wealth Management Inc. lifted its position in shares of First Trust Long/Short Equity ETF by 9.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 71,719 shares of the company’s stock worth $4,754,000 after purchasing an additional 6,162 shares during the period. Finally, Balboa Wealth Partners lifted its position in shares of First Trust Long/Short Equity ETF by 189.1% in the 2nd quarter. Balboa Wealth Partners now owns 9,938 shares of the company’s stock worth $659,000 after purchasing an additional 6,500 shares during the period.

First Trust Long/Short Equity ETF Stock Performance

Shares of FTLS opened at $70.10 on Monday. The company has a 50 day moving average price of $68.82 and a 200-day moving average price of $66.45. First Trust Long/Short Equity ETF has a fifty-two week low of $58.90 and a fifty-two week high of $70.49. The stock has a market capitalization of $2.02 billion, a PE ratio of 21.59 and a beta of 0.51.

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.