First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 12-Month High – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high on Wednesday . The company traded as high as $74.79 and last traded at $74.15, with a volume of 5573 shares changing hands. The stock had previously closed at $73.88.

First Trust Long/Short Equity ETF Trading Up 1.0%

The company has a 50-day moving average of $71.32 and a 200-day moving average of $71.18. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 21.59 and a beta of 0.51.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FTLS. Morgan Stanley grew its position in shares of First Trust Long/Short Equity ETF by 1.5% during the 4th quarter. Morgan Stanley now owns 5,252,510 shares of the company’s stock valued at $372,876,000 after buying an additional 78,397 shares during the last quarter. Royal Bank of Canada lifted its holdings in First Trust Long/Short Equity ETF by 3.2% in the fourth quarter. Royal Bank of Canada now owns 2,549,077 shares of the company’s stock worth $180,959,000 after acquiring an additional 78,470 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in First Trust Long/Short Equity ETF by 10.6% in the second quarter. Ameriprise Financial Inc. now owns 2,417,461 shares of the company’s stock worth $160,161,000 after acquiring an additional 231,155 shares during the last quarter. LPL Financial LLC boosted its stake in First Trust Long/Short Equity ETF by 6.7% in the fourth 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. grew its holdings in shares of First Trust Long/Short Equity ETF by 45.2% during the second quarter. Raymond James Financial Inc. now owns 673,403 shares of the company’s stock valued at $44,633,000 after purchasing 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.