Short Interest in First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Declines By 83.3%

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 81,280 shares, a decline of 83.3% from the June 15th total of 486,348 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 193,291 shares, the short-interest ratio is presently 0.4 days.

First Trust Long/Short Equity ETF Price Performance

Shares of FTLS traded down $0.09 during mid-day trading on Monday, hitting $74.62. The company’s stock had a trading volume of 88,676 shares, compared to its average volume of 115,406. The firm has a 50-day moving average price of $74.16 and a 200 day moving average price of $72.25. First Trust Long/Short Equity ETF has a fifty-two week low of $65.56 and a fifty-two week high of $75.11. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 21.59 and a beta of 0.50.

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

Several large investors have recently modified their holdings of the stock. Financial Designs Corp boosted its position in shares of First Trust Long/Short Equity ETF by 23.1% in the 2nd quarter. Financial Designs Corp now owns 5,062 shares of the company’s stock valued at $374,000 after purchasing an additional 951 shares during the period. Dynamic Advisor Solutions LLC increased its position in shares of First Trust Long/Short Equity ETF by 17.2% in the second quarter. Dynamic Advisor Solutions LLC now owns 45,758 shares of the company’s stock worth $3,377,000 after acquiring an additional 6,720 shares in the last quarter. FOCUS Wealth Advisors LLC raised its holdings in shares of First Trust Long/Short Equity ETF by 2.7% during the second quarter. FOCUS Wealth Advisors LLC now owns 91,195 shares of the company’s stock valued at $6,730,000 after acquiring an additional 2,385 shares during the period. CoreCap Advisors LLC boosted its stake in First Trust Long/Short Equity ETF by 14.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,461 shares of the company’s stock worth $108,000 after purchasing an additional 185 shares during the period. Finally, Hobart Private Capital LLC grew its position in First Trust Long/Short Equity ETF by 6.9% during the 2nd quarter. Hobart Private Capital LLC now owns 217,929 shares of the company’s stock worth $16,083,000 after purchasing an additional 14,097 shares in the last quarter.

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.