First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 52-Week High – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $75.09 and last traded at $74.99, with a volume of 31637 shares changing hands. The stock had previously closed at $74.73.

First Trust Long/Short Equity ETF Stock Performance

The company has a 50 day moving average price of $73.43 and a 200 day moving average price of $71.85. The company has a market capitalization of $2.32 billion, a PE ratio of 21.59 and a beta of 0.50.

Institutional Investors Weigh In On First Trust Long/Short Equity ETF

A number of institutional investors have recently modified their holdings of FTLS. NewEdge Advisors LLC grew its position in 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 worth $470,000 after purchasing an additional 1,803 shares during the last quarter. Jones Financial Companies Lllp grew its position in First Trust Long/Short Equity ETF by 1,462.5% in the 1st quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 468 shares during the last quarter. Focus Partners Wealth grew its position in First Trust Long/Short Equity ETF by 6.6% in the 1st 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 last quarter. Cerity Partners LLC grew its position in First Trust Long/Short Equity ETF by 57.7% in the 2nd 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 last quarter. Finally, Quantinno Capital Management LP bought a new position in First Trust Long/Short Equity ETF in the 2nd quarter worth about $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.