First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Hits New 12-Month High – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $67.92 and last traded at $67.22, with a volume of 10384 shares trading hands. The stock had previously closed at $67.01.

First Trust Long/Short Equity ETF Price Performance

The firm has a market cap of $1.32 billion, a P/E ratio of 19.46 and a beta of 0.62. The company’s 50 day moving average is $66.01 and its two-hundred day moving average is $64.09.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FTLS. GAMMA Investing LLC raised its position 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 worth $112,000 after purchasing an additional 353 shares in the last quarter. Global Wealth Strategies & Associates acquired a new position in shares of First Trust Long/Short Equity ETF in the 4th quarter worth approximately $1,081,000. JPMorgan Chase & Co. lifted its position in shares of First Trust Long/Short Equity ETF by 4,148.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 423,959 shares of the company’s stock worth $26,909,000 after buying an additional 413,979 shares during the period. SMART Wealth LLC lifted its position in shares of First Trust Long/Short Equity ETF by 10.0% during the 3rd quarter. SMART Wealth LLC now owns 19,457 shares of the company’s stock worth $1,235,000 after buying an additional 1,775 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in First Trust Long/Short Equity ETF in the 3rd quarter valued at $75,000.

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.