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

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.64 and last traded at $64.59, with a volume of 10861 shares traded. The stock had previously closed at $64.55.

First Trust Long/Short Equity ETF Price Performance

The company has a fifty day moving average price of $62.94 and a 200 day moving average price of $62.07. The company has a market capitalization of $1.28 billion, a P/E ratio of 19.46 and a beta of 0.62.

Institutional Trading of First Trust Long/Short Equity ETF

A number of large investors have recently modified their holdings of FTLS. UMB Bank n.a. bought a new position in First Trust Long/Short Equity ETF in the 3rd quarter worth approximately $35,000. NBC Securities Inc. boosted its position in First Trust Long/Short Equity ETF by 184.2% during the 3rd quarter. NBC Securities Inc. now owns 807 shares of the company’s stock worth $51,000 after acquiring an additional 523 shares during the period. GAMMA Investing LLC bought a new position in shares of First Trust Long/Short Equity ETF in the second quarter worth $84,000. Concourse Financial Group Securities Inc. increased its holdings in shares of First Trust Long/Short Equity ETF by 248,800.0% during the first quarter. Concourse Financial Group Securities Inc. now owns 2,489 shares of the company’s stock valued at $153,000 after purchasing an additional 2,488 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of First Trust Long/Short Equity ETF by 44.2% during the second quarter. Larson Financial Group LLC now owns 2,560 shares of the company’s stock valued at $160,000 after purchasing an additional 785 shares in 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.