First Trust Long/Short Equity ETF (NYSEARCA:FTLS) Sees Large Volume Increase – What’s Next?

First Trust Long/Short Equity ETF (NYSEARCA:FTLS) shares saw an uptick in trading volume on Monday . 178,497 shares traded hands during trading, an increase of 42% from the previous session’s volume of 125,976 shares.The stock last traded at $67.27 and had previously closed at $66.64.

First Trust Long/Short Equity ETF Stock Performance

The firm has a market capitalization of $1.32 billion, a PE ratio of 19.46 and a beta of 0.62. The stock’s 50 day simple moving average is $66.01 and its two-hundred day simple moving average is $64.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. LPL Financial LLC lifted its holdings in shares of First Trust Long/Short Equity ETF by 9.7% in the 3rd quarter. LPL Financial LLC now owns 1,712,896 shares of the company’s stock worth $108,718,000 after acquiring an additional 150,887 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of First Trust Long/Short Equity ETF by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 522,659 shares of the company’s stock worth $32,713,000 after buying an additional 19,922 shares during the period. JPMorgan Chase & Co. grew its stake in shares of First Trust Long/Short Equity ETF by 4,148.1% in the third quarter. JPMorgan Chase & Co. now owns 423,959 shares of the company’s stock valued at $26,909,000 after buying an additional 413,979 shares in the last quarter. Truist Financial Corp raised its holdings in shares of First Trust Long/Short Equity ETF by 3.2% in the 2nd quarter. Truist Financial Corp now owns 392,377 shares of the company’s stock valued at $24,559,000 after buying an additional 12,107 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of First Trust Long/Short Equity ETF in the 3rd quarter valued at $21,644,000.

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.