First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 52-Week High – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $69.94 and last traded at $67.73, with a volume of 13909 shares changing hands. The stock had previously closed at $67.90.

First Trust Long/Short Equity ETF Stock Performance

The company’s 50-day moving average price is $66.91 and its 200 day moving average price is $64.73. The stock has a market capitalization of $1.34 billion, a PE ratio of 19.46 and a beta of 0.62.

Institutional Trading of First Trust Long/Short Equity ETF

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC raised its stake in First Trust Long/Short Equity ETF by 9.7% during the third quarter. LPL Financial LLC now owns 1,712,896 shares of the company’s stock valued at $108,718,000 after purchasing an additional 150,887 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Trust Long/Short Equity ETF by 4,148.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 423,959 shares of the company’s stock valued at $26,909,000 after purchasing an additional 413,979 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of First Trust Long/Short Equity ETF in the 3rd quarter valued at $21,644,000. Private Advisor Group LLC lifted its position in shares of First Trust Long/Short Equity ETF by 8.0% during the third quarter. Private Advisor Group LLC now owns 338,033 shares of the company’s stock valued at $21,455,000 after buying an additional 25,151 shares during the last quarter. Finally, Financial Enhancement Group LLC raised its holdings in shares of First Trust Long/Short Equity ETF by 15.4% during the third quarter. Financial Enhancement Group LLC now owns 311,985 shares of the company’s stock worth $19,802,000 after purchasing an additional 41,617 shares during 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.