First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sets New 1-Year High – Here’s What Happened

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $66.42 and last traded at $66.22, with a volume of 16054 shares trading hands. The stock had previously closed at $66.26.

First Trust Long/Short Equity ETF Stock Performance

The stock’s 50 day simple moving average is $64.65 and its 200 day simple moving average is $63.23. The firm has a market cap of $1.32 billion, a PE ratio of 19.46 and a beta of 0.62.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in shares of First Trust Long/Short Equity ETF by 9.7% in the 3rd quarter. LPL Financial LLC now owns 1,712,896 shares of the company’s stock worth $108,718,000 after purchasing an additional 150,887 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in First Trust Long/Short Equity ETF by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 522,659 shares of the company’s stock worth $32,713,000 after buying an additional 19,922 shares during the last quarter. Truist Financial Corp grew its position in First Trust Long/Short Equity ETF by 3.2% during the second quarter. Truist Financial Corp now owns 392,377 shares of the company’s stock valued at $24,559,000 after acquiring an additional 12,107 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of First Trust Long/Short Equity ETF during the third quarter worth approximately $21,644,000. Finally, Private Advisor Group LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 338,033 shares of the company’s stock worth $21,455,000 after acquiring an additional 25,151 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.