First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 12-Month High – Time to Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $68.00 and last traded at $67.98, with a volume of 25193 shares trading hands. The stock had previously closed at $67.61.

First Trust Long/Short Equity ETF Price Performance

The stock has a market capitalization of $1.35 billion, a P/E ratio of 19.46 and a beta of 0.62. The business’s 50 day moving average price is $66.42 and its 200 day moving average price is $64.36.

Institutional Investors Weigh In On First Trust Long/Short Equity ETF

A number of large investors have recently made changes to their positions in the company. UMB Bank n.a. bought a new stake in First Trust Long/Short Equity ETF in the third quarter worth $35,000. NBC Securities Inc. lifted its stake in First Trust Long/Short Equity ETF by 184.2% in the third quarter. NBC Securities Inc. now owns 807 shares of the company’s stock worth $51,000 after purchasing an additional 523 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Trust Long/Short Equity ETF in the third quarter worth approximately $75,000. GAMMA Investing LLC boosted its stake in shares of First Trust Long/Short Equity ETF by 26.2% during the fourth quarter. GAMMA Investing LLC now owns 1,700 shares of the company’s stock valued at $112,000 after purchasing an additional 353 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new position in First Trust Long/Short Equity ETF in the 2nd quarter worth about $203,000.

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.