Cornerstone Wealth Management LLC Has $538,000 Position in First Trust Long/Short Equity ETF (NYSEARCA:FTLS)

Cornerstone Wealth Management LLC reduced its stake in shares of First Trust Long/Short Equity ETF (NYSEARCA:FTLS) by 20.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,472 shares of the company’s stock after selling 2,195 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in First Trust Long/Short Equity ETF were worth $538,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. acquired a new position in First Trust Long/Short Equity ETF during the third quarter worth $35,000. NBC Securities Inc. raised its stake in First Trust Long/Short Equity ETF by 184.2% during the third quarter. NBC Securities Inc. now owns 807 shares of the company’s stock worth $51,000 after acquiring an additional 523 shares in the last quarter. GAMMA Investing LLC acquired a new position in First Trust Long/Short Equity ETF during the second quarter worth $84,000. Concourse Financial Group Securities Inc. grew its holdings in shares of First Trust Long/Short Equity ETF by 248,800.0% during the first quarter. Concourse Financial Group Securities Inc. now owns 2,489 shares of the company’s stock worth $153,000 after purchasing an additional 2,488 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of First Trust Long/Short Equity ETF by 44.2% during the second quarter. Larson Financial Group LLC now owns 2,560 shares of the company’s stock worth $160,000 after purchasing an additional 785 shares during the last quarter.

First Trust Long/Short Equity ETF Stock Performance

Shares of FTLS stock opened at $64.91 on Friday. The stock’s fifty day moving average is $63.15 and its 200-day moving average is $62.13. The stock has a market capitalization of $1.29 billion, a PE ratio of 19.46 and a beta of 0.62. First Trust Long/Short Equity ETF has a 52 week low of $52.15 and a 52 week high of $65.00.

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.