First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Unusually-High Trading Volume – Here’s Why

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares saw an uptick in trading volume on Monday . 344,730 shares changed hands during trading, an increase of 130% from the previous session’s volume of 150,109 shares.The stock last traded at $64.43 and had previously closed at $64.14.

First Trust Long/Short Equity ETF Trading Down 0.5 %

The company has a 50 day moving average of $66.54 and a 200 day moving average of $65.43. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 24.12 and a beta of 0.50.

Hedge Funds Weigh In On First Trust Long/Short Equity ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. increased its position in shares of First Trust Long/Short Equity ETF by 3.5% during the fourth quarter. Wedbush Securities Inc. now owns 4,779 shares of the company’s stock valued at $315,000 after buying an additional 163 shares during the period. DAVENPORT & Co LLC boosted its stake in First Trust Long/Short Equity ETF by 4.2% during the fourth quarter. DAVENPORT & Co LLC now owns 4,778 shares of the company’s stock worth $314,000 after acquiring an additional 191 shares in the last quarter. Moors & Cabot Inc. boosted its stake in First Trust Long/Short Equity ETF by 4.6% during the third quarter. Moors & Cabot Inc. now owns 5,214 shares of the company’s stock worth $331,000 after acquiring an additional 228 shares in the last quarter. Principal Securities Inc. boosted its stake in First Trust Long/Short Equity ETF by 31.9% during the fourth quarter. Principal Securities Inc. now owns 955 shares of the company’s stock worth $63,000 after acquiring an additional 231 shares in the last quarter. Finally, Harvest Investment Services LLC boosted its stake in First Trust Long/Short Equity ETF by 2.4% during the fourth quarter. Harvest Investment Services LLC now owns 11,022 shares of the company’s stock worth $725,000 after acquiring an additional 260 shares in the last quarter.

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.