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

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high during trading on Monday. The stock traded as high as $77.97 and last traded at $77.9690, with a volume of 203,924 shares traded. The stock had previously closed at $77.71.

First Trust Long/Short Equity ETF Price Performance

The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 21.59 and a beta of 0.50. The business has a fifty day moving average price of $76.63 and a 200 day moving average price of $74.68.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in First Trust Long/Short Equity ETF by 2.2% in the 1st quarter. Royal Bank of Canada now owns 2,606,322 shares of the company’s stock valued at $183,381,000 after buying an additional 57,245 shares during the period. Cetera Investment Advisers raised its stake in shares of First Trust Long/Short Equity ETF by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 583,922 shares of the company’s stock valued at $41,085,000 after buying an additional 31,515 shares in the last quarter. Assetmark Inc. raised its stake in shares of First Trust Long/Short Equity ETF by 9.3% in the 1st quarter. Assetmark Inc. now owns 555,229 shares of the company’s stock valued at $39,066,000 after buying an additional 47,314 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of First Trust Long/Short Equity ETF by 10.7% in the 1st quarter. CENTRAL TRUST Co now owns 468,069 shares of the company’s stock valued at $32,933,000 after buying an additional 45,426 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 8.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 235,621 shares of the company’s stock worth $17,408,000 after acquiring an additional 18,044 shares during the period.

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.