First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Strong Trading Volume – Still a Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw an uptick in trading volume on Tuesday . Approximately 468,770 shares changed hands during mid-day trading, an increase of 303% from the previous session’s volume of 116,212 shares.The stock last traded at $75.72 and had previously closed at $75.07.

First Trust Long/Short Equity ETF Trading Up 0.9%

The firm has a market capitalization of $2.49 billion, a P/E ratio of 21.59 and a beta of 0.50. The company’s fifty day simple moving average is $74.38 and its 200 day simple moving average is $72.64.

Institutional Trading of First Trust Long/Short Equity ETF

Several large investors have recently bought and sold shares of FTLS. NewEdge Advisors LLC lifted its stake in shares of First Trust Long/Short Equity ETF by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,337 shares of the company’s stock valued at $470,000 after purchasing an additional 1,803 shares during the period. Jones Financial Companies Lllp boosted its position in shares of First Trust Long/Short Equity ETF by 1,462.5% during the first quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock valued at $30,000 after purchasing an additional 468 shares in the last quarter. Focus Partners Wealth grew its stake in First Trust Long/Short Equity ETF by 6.6% in the first quarter. Focus Partners Wealth now owns 22,906 shares of the company’s stock worth $1,468,000 after purchasing an additional 1,414 shares during the period. Cerity Partners LLC grew its stake in First Trust Long/Short Equity ETF by 57.7% in the second quarter. Cerity Partners LLC now owns 55,304 shares of the company’s stock worth $3,666,000 after purchasing an additional 20,225 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in First Trust Long/Short Equity ETF in the second quarter worth $344,000.

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.