First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 52-Week High – Should You Buy?

by · The Markets Daily

First Trust Long/Short Equity ETF (NYSEARCA:FTLS – Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $65.31 and last traded at $65.27, with a volume of 6433 shares. The stock had previously closed at $64.28.

First Trust Long/Short Equity ETF Stock Up 1.7 %

The company has a market cap of $1.30 billion, a price-to-earnings ratio of 19.46 and a beta of 0.62. The company has a fifty day simple moving average of $63.48 and a two-hundred day simple moving average of $62.48.

Hedge Funds Weigh In On First Trust Long/Short Equity ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its stake in shares of First Trust Long/Short Equity ETF by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 316,306 shares of the company’s stock worth $19,798,000 after purchasing an additional 33,263 shares in the last quarter. Larson Financial Group LLC increased its position in First Trust Long/Short Equity ETF by 44.2% during the second quarter. Larson Financial Group LLC now owns 2,560 shares of the company’s stock worth $160,000 after buying an additional 785 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of First Trust Long/Short Equity ETF in the second quarter worth $718,000. OLD National Bancorp IN lifted its position in shares of First Trust Long/Short Equity ETF by 24.7% in the third quarter. OLD National Bancorp IN now owns 33,806 shares of the company’s stock valued at $2,146,000 after acquiring an additional 6,704 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Trust Long/Short Equity ETF by 390.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 60,624 shares of the company’s stock valued at $3,794,000 after acquiring an additional 48,264 shares during the last quarter.

First Trust Long/Short Equity ETF Company Profile

(Get Free Report)

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.

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