First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 52-Week High – Here’s What Happened

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $74.88 and last traded at $74.79, with a volume of 4658 shares changing hands. The stock had previously closed at $74.42.

First Trust Long/Short Equity ETF Price Performance

The firm has a 50 day simple moving average of $72.13 and a two-hundred day simple moving average of $71.50. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 21.59 and a beta of 0.51.

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

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in shares of First Trust Long/Short Equity ETF by 1.5% during the third quarter. Envestnet Asset Management Inc. now owns 588,279 shares of the company’s stock worth $41,150,000 after purchasing an additional 8,523 shares during the period. Assetmark Inc. raised its position in shares of First Trust Long/Short Equity ETF by 728.0% during the fourth quarter. Assetmark Inc. now owns 507,915 shares of the company’s stock worth $36,057,000 after purchasing an additional 446,569 shares during the period. Center For Asset Management LLC acquired a new stake in shares of First Trust Long/Short Equity ETF during the fourth quarter worth about $2,965,000. Seeds Investor LLC acquired a new stake in shares of First Trust Long/Short Equity ETF during the fourth quarter worth about $3,283,000. Finally, Kingsview Wealth Management LLC raised its position in shares of First Trust Long/Short Equity ETF by 35.4% during the third quarter. Kingsview Wealth Management LLC now owns 76,893 shares of the company’s stock worth $5,379,000 after purchasing an additional 20,123 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.