First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 12-Month High – Here’s Why

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $77.59 and last traded at $77.5390, with a volume of 3082 shares. The stock had previously closed at $76.90.

First Trust Long/Short Equity ETF Stock Performance

The stock has a 50-day moving average of $76.35 and a 200 day moving average of $74.40. The firm has a market capitalization of $2.60 billion, a P/E ratio of 21.59 and a beta of 0.50.

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

A number of institutional investors and hedge funds have recently made changes to their positions in FTLS. Integrated Wealth Concepts LLC increased its position in First Trust Long/Short Equity ETF by 0.3% in the second quarter. Integrated Wealth Concepts LLC now owns 43,603 shares of the company’s stock worth $3,218,000 after purchasing an additional 145 shares during the period. RFG Advisory LLC grew its holdings in First Trust Long/Short Equity ETF by 32.5% during the 2nd quarter. RFG Advisory LLC now owns 101,273 shares of the company’s stock worth $7,474,000 after acquiring an additional 24,861 shares during the period. Ameritas Advisory Services LLC grew its stake in shares of First Trust Long/Short Equity ETF by 114.9% during the second quarter. Ameritas Advisory Services LLC now owns 12,519 shares of the company’s stock worth $924,000 after purchasing an additional 6,693 shares during the period. Compass Financial Management LLC acquired a new position in shares of First Trust Long/Short Equity ETF during the 2nd quarter worth about $112,000. Finally, Concurrent Investment Advisors LLC grew its holdings in First Trust Long/Short Equity ETF by 2.8% during the second quarter. Concurrent Investment Advisors LLC now owns 10,013 shares of the company’s stock valued at $739,000 after purchasing an additional 269 shares during the period.

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.