First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 12-Month High – Here’s Why

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.21 and last traded at $75.11, with a volume of 28428 shares traded. The stock had previously closed at $74.66.

First Trust Long/Short Equity ETF Stock Performance

The stock has a 50-day simple moving average of $74.29 and a 200 day simple moving average of $72.43. The stock has a market capitalization of $2.47 billion, a P/E ratio of 21.59 and a beta of 0.50.

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

Large investors have recently bought and sold shares of the business. Morgan Stanley boosted its holdings in First Trust Long/Short Equity ETF by 1.5% during the fourth quarter. Morgan Stanley now owns 5,252,510 shares of the company’s stock worth $372,876,000 after buying an additional 78,397 shares during the last quarter. Royal Bank of Canada increased its stake in shares of First Trust Long/Short Equity ETF by 2.2% in the 1st quarter. Royal Bank of Canada now owns 2,606,322 shares of the company’s stock valued at $183,381,000 after acquiring an additional 57,245 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of First Trust Long/Short Equity ETF by 10.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,417,461 shares of the company’s stock valued at $160,161,000 after acquiring an additional 231,155 shares during the last quarter. LPL Financial LLC raised its position in shares of First Trust Long/Short Equity ETF by 6.7% in the 4th quarter. LPL Financial LLC now owns 2,397,528 shares of the company’s stock valued at $170,200,000 after acquiring an additional 149,648 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in First Trust Long/Short Equity ETF by 45.2% during the 2nd quarter. Raymond James Financial Inc. now owns 673,403 shares of the company’s stock worth $44,633,000 after acquiring an additional 209,579 shares during 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.