First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Here’s Why

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $67.92 and last traded at $67.22, with a volume of 10384 shares. The stock had previously closed at $67.01.

First Trust Long/Short Equity ETF Stock Performance

The company has a market cap of $1.32 billion, a P/E ratio of 19.46 and a beta of 0.62. The firm has a 50 day moving average price of $66.01 and a 200-day moving average price of $64.09.

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

Institutional investors have recently modified their holdings of the company. Savant Capital LLC acquired a new position in shares of First Trust Long/Short Equity ETF during the 2nd quarter worth about $588,000. LPL Financial LLC increased its position in First Trust Long/Short Equity ETF by 27.3% in the 2nd quarter. LPL Financial LLC now owns 1,562,009 shares of the company’s stock worth $97,766,000 after buying an additional 335,072 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of First Trust Long/Short Equity ETF by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 522,659 shares of the company’s stock worth $32,713,000 after buying an additional 19,922 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of First Trust Long/Short Equity ETF by 10.5% in the second quarter. Moors & Cabot Inc. now owns 4,986 shares of the company’s stock valued at $312,000 after acquiring an additional 475 shares during the period. Finally, Carolinas Wealth Consulting LLC grew its stake in shares of First Trust Long/Short Equity ETF by 325.6% in the second quarter. Carolinas Wealth Consulting LLC now owns 10,316 shares of the company’s stock worth $648,000 after acquiring an additional 7,892 shares during the last quarter.

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.