First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Large Volume Increase – Should You Buy?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares saw unusually-high trading volume on Tuesday . Approximately 347,724 shares changed hands during 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 Stock Performance

The firm has a 50 day moving average of $66.61 and a 200-day moving average of $64.48. The stock has a market capitalization of $1.34 billion, a PE ratio of 19.46 and a beta of 0.62.

Institutional Trading of First Trust Long/Short Equity ETF

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. purchased a new stake in shares of First Trust Long/Short Equity ETF during the 3rd quarter worth about $35,000. NBC Securities Inc. increased its holdings in 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in First Trust Long/Short Equity ETF during the third quarter valued at approximately $75,000. GAMMA Investing LLC lifted its stake in First Trust Long/Short Equity ETF by 26.2% in the fourth quarter. GAMMA Investing LLC now owns 1,700 shares of the company’s stock valued at $112,000 after acquiring an additional 353 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in First Trust Long/Short Equity ETF by 4.2% in the fourth quarter. DAVENPORT & Co LLC now owns 4,778 shares of the company’s stock worth $314,000 after acquiring an additional 191 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.