First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 1-Year High – Time to Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) hit a new 52-week high on Friday . The stock traded as high as $69.94 and last traded at $67.73, with a volume of 13909 shares. The stock had previously closed at $67.90.

First Trust Long/Short Equity ETF Stock Down 0.5 %

The stock has a 50-day moving average price of $66.91 and a 200 day moving average price of $64.73. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.46 and a beta of 0.62.

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

A number of hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of First Trust Long/Short Equity ETF during the 4th quarter worth approximately $34,000. UMB Bank n.a. purchased a new stake in shares of First Trust Long/Short Equity ETF in the third quarter valued at $35,000. Comprehensive Financial Planning Inc. PA acquired a new position in First Trust Long/Short Equity ETF during the fourth quarter worth approximately $36,000. NBC Securities Inc. boosted its position in shares of First Trust Long/Short Equity ETF by 184.2% in the third quarter. NBC Securities Inc. now owns 807 shares of the company’s stock worth $51,000 after buying an additional 523 shares during the period. Finally, Blue Trust Inc. purchased a new position in First Trust Long/Short Equity ETF in the 4th quarter valued at about $52,000.

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.