First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Shares Down 0.4% – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price was down 0.4% on Friday . The company traded as low as $76.32 and last traded at $76.46. 77,214 shares were traded during mid-day trading, a decline of 34% from the average session volume of 116,268 shares. The stock had previously closed at $76.78.

First Trust Long/Short Equity ETF Stock Performance

The firm’s 50-day moving average is $75.08 and its two-hundred day moving average is $73.25. The stock has a market cap of $2.52 billion, a P/E ratio of 21.59 and a beta of 0.50.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidemark LLC bought a new position in First Trust Long/Short Equity ETF in the fourth quarter valued at about $29,000. Jones Financial Companies Lllp raised its holdings in First Trust Long/Short Equity ETF by 1,462.5% during the 1st quarter. Jones Financial Companies Lllp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 468 shares during the last quarter. Rossby Financial LCC lifted its position in First Trust Long/Short Equity ETF by 25.4% during the 4th quarter. Rossby Financial LCC now owns 869 shares of the company’s stock valued at $62,000 after purchasing an additional 176 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in First Trust Long/Short Equity ETF during the 1st quarter valued at about $75,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of First Trust Long/Short Equity ETF by 801.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,470 shares of the company’s stock valued at $104,000 after purchasing an additional 1,307 shares during the last quarter.

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.