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

Shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) saw unusually-high trading volume on Friday . 267,627 shares traded hands during trading, an increase of 131% from the previous session’s volume of 115,880 shares.The stock last traded at $76.78 and had previously closed at $77.02.

First Trust Long/Short Equity ETF Trading Down 0.3%

The stock has a market cap of $2.53 billion, a PE ratio of 21.59 and a beta of 0.50. The business has a fifty day simple moving average of $75.27 and a two-hundred day simple moving average of $73.42.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 114.9% during the second quarter. Ameritas Advisory Services LLC now owns 12,519 shares of the company’s stock valued at $924,000 after purchasing an additional 6,693 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of First Trust Long/Short Equity ETF in the 2nd quarter worth approximately $112,000. Concurrent Investment Advisors LLC increased its position in First Trust Long/Short Equity ETF by 2.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,013 shares of the company’s stock valued at $739,000 after buying an additional 269 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in First Trust Long/Short Equity ETF during the 2nd quarter valued at approximately $107,000. Finally, Financial Designs Corp raised its stake in First Trust Long/Short Equity ETF by 23.1% during the second quarter. Financial Designs Corp now owns 5,062 shares of the company’s stock valued at $374,000 after buying an additional 951 shares during 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.