First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Reaches New 52-Week High – Still a Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s stock price reached 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. The stock had previously closed at $66.26.

First Trust Long/Short Equity ETF Stock Up 0.1 %

The company has a market cap of $1.32 billion, a price-to-earnings ratio of 19.46 and a beta of 0.62. The company has a fifty day simple moving average of $64.53 and a two-hundred day simple moving average of $63.16.

Institutional Trading of First Trust Long/Short Equity ETF

A number of large investors have recently made changes to their positions in the stock. Meadow Creek Wealth Advisors LLC boosted its stake in shares of First Trust Long/Short Equity ETF by 1.7% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 9,699 shares of the company’s stock valued at $616,000 after acquiring an additional 165 shares during the last quarter. Moors & Cabot Inc. lifted its position in First Trust Long/Short Equity ETF by 4.6% during the third quarter. Moors & Cabot Inc. now owns 5,214 shares of the company’s stock worth $331,000 after buying an additional 228 shares during the period. Cooper Financial Group lifted its position in First Trust Long/Short Equity ETF by 1.8% during the second 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 period. Prospera Financial Services Inc lifted its position in First Trust Long/Short Equity ETF by 4.2% during the third quarter. Prospera Financial Services Inc now owns 11,656 shares of the company’s stock worth $741,000 after buying an additional 474 shares during the period. Finally, Raymond James Trust N.A. lifted its position in First Trust Long/Short Equity ETF by 2.4% during the third quarter. Raymond James Trust N.A. now owns 20,465 shares of the company’s stock worth $1,299,000 after buying an additional 477 shares during the period.

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.