First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches 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 trading on Wednesday . The stock traded as high as $63.88 and last traded at $63.88, with a volume of 122587 shares changing hands. The stock had previously closed at $63.21.

First Trust Long/Short Equity ETF Trading Up 1.1 %

The stock has a market capitalization of $1.27 billion, a PE ratio of 19.46 and a beta of 0.62. The company’s 50-day moving average is $62.77 and its 200 day moving average is $62.00.

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

Several hedge funds and other institutional investors have recently modified their holdings of FTLS. Cooper Financial Group raised its position in First Trust Long/Short Equity ETF by 1.8% during the 2nd quarter. Cooper Financial Group now owns 16,711 shares of the company’s stock worth $1,046,000 after buying an additional 298 shares during the last quarter. Avantax Advisory Services Inc. raised its position in First Trust Long/Short Equity ETF by 1.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 37,232 shares of the company’s stock worth $2,296,000 after buying an additional 378 shares during the last quarter. Moors & Cabot Inc. raised its position in First Trust Long/Short Equity ETF by 10.5% during the 2nd quarter. Moors & Cabot Inc. now owns 4,986 shares of the company’s stock worth $312,000 after buying an additional 475 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in First Trust Long/Short Equity ETF by 1.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 31,615 shares of the company’s stock worth $1,979,000 after buying an additional 550 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in First Trust Long/Short Equity ETF during the 3rd quarter worth approximately $35,000.

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.