First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Shares Break Above 50 Day Moving Average – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS)’s share price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $76.83 and traded as high as $77.36. First Trust Long/Short Equity ETF shares last traded at $77.18, with a volume of 142,932 shares.

First Trust Long/Short Equity ETF Stock Performance

The stock has a market capitalization of $2.65 billion, a P/E ratio of 21.59 and a beta of 0.50. The company’s 50-day moving average price is $76.86 and its 200 day moving average price is $73.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in First Trust Long/Short Equity ETF by 2.2% during the first quarter. Royal Bank of Canada now owns 2,606,322 shares of the company’s stock worth $183,381,000 after acquiring an additional 57,245 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of First Trust Long/Short Equity ETF by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 583,922 shares of the company’s stock valued at $41,085,000 after purchasing an additional 31,515 shares during the last quarter. Assetmark Inc. lifted its stake in shares of First Trust Long/Short Equity ETF by 9.3% in the 1st quarter. Assetmark Inc. now owns 555,229 shares of the company’s stock valued at $39,066,000 after purchasing an additional 47,314 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of First Trust Long/Short Equity ETF by 8.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 235,621 shares of the company’s stock worth $17,408,000 after purchasing an additional 18,044 shares during the period. Finally, Hobart Private Capital LLC boosted its holdings in shares of First Trust Long/Short Equity ETF by 6.9% in the 2nd quarter. Hobart Private Capital LLC now owns 217,929 shares of the company’s stock worth $16,083,000 after purchasing an additional 14,097 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.