First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Large Decrease in Short Interest

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 81,280 shares, a decline of 83.3% from the June 15th total of 486,348 shares. Based on an average daily trading volume, of 193,291 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the company’s shares are short sold.

First Trust Long/Short Equity ETF Price Performance

FTLS traded down $0.09 on Monday, hitting $74.62. The company had a trading volume of 88,676 shares, compared to its average volume of 115,406. First Trust Long/Short Equity ETF has a 52-week low of $65.56 and a 52-week high of $75.11. The stock has a fifty day simple moving average of $74.16 and a 200-day simple moving average of $72.25. The firm has a market capitalization of $2.44 billion, a P/E ratio of 21.59 and a beta of 0.50.

Institutional Trading of First Trust Long/Short Equity ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley boosted its stake in First Trust Long/Short Equity ETF by 1.5% during the fourth quarter. Morgan Stanley now owns 5,252,510 shares of the company’s stock worth $372,876,000 after acquiring an additional 78,397 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of First Trust Long/Short Equity ETF by 2.2% in the first quarter. Royal Bank of Canada now owns 2,606,322 shares of the company’s stock worth $183,381,000 after buying an additional 57,245 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of First Trust Long/Short Equity ETF by 10.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,417,461 shares of the company’s stock worth $160,161,000 after purchasing an additional 231,155 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of First Trust Long/Short Equity ETF by 6.7% during the 4th quarter. LPL Financial LLC now owns 2,397,528 shares of the company’s stock valued at $170,200,000 after acquiring an additional 149,648 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of First Trust Long/Short Equity ETF by 45.2% during the 2nd quarter. Raymond James Financial Inc. now owns 673,403 shares of the company’s stock valued at $44,633,000 after buying an additional 209,579 shares during the period.

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.