Short Interest in First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Expands By 117.2%

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 64,382 shares, a growth of 117.2% from the February 12th total of 29,648 shares. Based on an average trading volume of 78,888 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 78,888 shares, the days-to-cover ratio is presently 0.8 days.

First Trust Long/Short Equity ETF Stock Performance

Shares of FTLS stock opened at $69.51 on Friday. First Trust Long/Short Equity ETF has a fifty-two week low of $58.90 and a fifty-two week high of $72.39. The stock’s fifty day moving average price is $71.15 and its two-hundred day moving average price is $70.48. The company has a market cap of $2.13 billion, a PE ratio of 21.59 and a beta of 0.48.

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

Large investors have recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of First Trust Long/Short Equity ETF during the 3rd quarter worth $25,000. GPS Wealth Strategies Group LLC increased its stake in First Trust Long/Short Equity ETF by 87.3% in the third quarter. GPS Wealth Strategies Group LLC now owns 399 shares of the company’s stock valued at $28,000 after acquiring an additional 186 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in First Trust Long/Short Equity ETF during the third quarter valued at about $28,000. Tidemark LLC purchased a new stake in First Trust Long/Short Equity ETF during the fourth quarter valued at about $29,000. Finally, Jones Financial Companies Lllp lifted its stake in First Trust Long/Short Equity ETF by 1,462.5% during the first 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.

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.