First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Here’s What Happened

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.57 and last traded at $71.5350, with a volume of 23180 shares changing hands. The stock had previously closed at $70.88.

First Trust Long/Short Equity ETF Price Performance

The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 21.59 and a beta of 0.48. The business has a 50 day simple moving average of $69.31 and a 200-day simple moving average of $66.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC lifted its position in shares of First Trust Long/Short Equity ETF by 6.9% in the third quarter. Flagship Harbor Advisors LLC now owns 114,913 shares of the company’s stock valued at $8,038,000 after buying an additional 7,370 shares during the last quarter. IMG Wealth Management Inc. lifted its position in shares of First Trust Long/Short Equity ETF by 11.0% in the third quarter. IMG Wealth Management Inc. now owns 79,573 shares of the company’s stock valued at $5,566,000 after buying an additional 7,854 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of First Trust Long/Short Equity ETF by 1.5% in the third quarter. Envestnet Asset Management Inc. now owns 588,279 shares of the company’s stock valued at $41,150,000 after buying an additional 8,523 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of First Trust Long/Short Equity ETF by 22.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 20,073 shares of the company’s stock worth $1,404,000 after purchasing an additional 3,694 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of First Trust Long/Short Equity ETF by 1.9% during the third quarter. Cornerstone Planning Group LLC now owns 223,113 shares of the company’s stock worth $15,868,000 after purchasing an additional 4,205 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.