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

Shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw an uptick in trading volume on Monday . 344,730 shares changed hands during trading, an increase of 130% from the previous session’s volume of 150,109 shares.The stock last traded at $64.43 and had previously closed at $64.14.

First Trust Long/Short Equity ETF Stock Performance

The firm has a market capitalization of $1.89 billion, a P/E ratio of 24.12 and a beta of 0.50. The business’s fifty day moving average price is $66.64 and its two-hundred day moving average price is $65.42.

Institutional Investors Weigh In On First Trust Long/Short Equity ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in First Trust Long/Short Equity ETF by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,662,691 shares of the company’s stock worth $109,430,000 after buying an additional 473,092 shares during the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 413,979 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of First Trust Long/Short Equity ETF during the 3rd quarter worth approximately $21,644,000. Raymond James Financial Inc. purchased a new stake in shares of First Trust Long/Short Equity ETF in the 4th quarter valued at $16,769,000. Finally, LPL Financial LLC boosted its stake in shares of First Trust Long/Short Equity ETF by 11.4% in the fourth quarter. LPL Financial LLC now owns 1,907,555 shares of the company’s stock valued at $125,536,000 after purchasing an additional 194,659 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.