First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Strong Trading Volume – Here’s Why

Shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw unusually-strong trading volume on Tuesday . Approximately 347,724 shares changed hands during mid-day trading, an increase of 111% from the previous session’s volume of 164,800 shares.The stock last traded at $67.50 and had previously closed at $67.00.

First Trust Long/Short Equity ETF Trading Up 0.4 %

The business’s fifty day simple moving average is $66.73 and its 200 day simple moving average is $64.56. The stock has a market cap 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

Institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its stake in First Trust Long/Short Equity ETF by 43.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 30,312 shares of the company’s stock worth $1,897,000 after acquiring an additional 9,131 shares during the last quarter. Truist Financial Corp raised its holdings in First Trust Long/Short Equity ETF by 3.2% in the second quarter. Truist Financial Corp now owns 392,377 shares of the company’s stock worth $24,559,000 after purchasing an additional 12,107 shares during the period. Cetera Investment Advisers boosted its position in shares of First Trust Long/Short Equity ETF by 11.8% during the second quarter. Cetera Investment Advisers now owns 316,306 shares of the company’s stock worth $19,798,000 after purchasing an additional 33,263 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of First Trust Long/Short Equity ETF in the 2nd quarter valued at $1,992,000. Finally, Richard P Slaughter Associates Inc increased its position in shares of First Trust Long/Short Equity ETF by 34.8% in the 3rd quarter. Richard P Slaughter Associates Inc now owns 106,628 shares of the company’s stock valued at $6,768,000 after buying an additional 27,526 shares in 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.