First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Large Volume Increase – Time to Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw strong trading volume on Monday . Approximately 159,666 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 109,978 shares.The stock last traded at $73.56 and had previously closed at $73.07.

First Trust Long/Short Equity ETF Stock Up 0.5%

The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.59 and a beta of 0.50. The business’s 50-day moving average is $73.88 and its 200-day moving average is $72.02.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FTLS. Burkett Financial Services LLC acquired a new stake in shares of First Trust Long/Short Equity ETF during the 3rd quarter worth approximately $28,000. Tidemark LLC purchased a new stake in First Trust Long/Short Equity ETF during the fourth quarter worth $29,000. Jones Financial Companies Lllp grew its position in 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 buying an additional 468 shares during the period. Rossby Financial LCC grew its position in First Trust Long/Short Equity ETF by 25.4% during the fourth quarter. Rossby Financial LCC now owns 869 shares of the company’s stock valued at $62,000 after buying an additional 176 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in First Trust Long/Short Equity ETF during the first quarter valued at $75,000.

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.