Dynamic Advisor Solutions LLC Increases Stake in First Trust Long/Short Equity ETF

On October 12, 2024, it was reported that Dynamic Advisor Solutions LLC has increased its investment in the First Trust Long/Short Equity ETF (NYSEARCA: FTLS) by 25.2% during the third quarter. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission. Following this purchase, Dynamic Advisor Solutions LLC now holds 12,894 shares of FTLS, having acquired an additional 2,592 shares during the period. As of the most recent filing, this stake is valued at approximately $818,000.

Several other institutional investors and hedge funds have also modified their positions in First Trust Long/Short Equity ETF. For instance, Cooper Financial Group increased its holdings by 1.8% in the second quarter, now owning 16,711 shares worth around $1,046,000 after purchasing 298 additional shares. Avantax Advisory Services Inc. raised its stake by 1.0% in the first quarter, holding 37,232 shares valued at $2,296,000 after acquiring 378 shares. Moors & Cabot Inc. increased its position by 10.5% in the second quarter, now owning 4,986 shares valued at $312,000 after buying 475 shares. Envestnet Portfolio Solutions Inc. grew its stake by 1.8% during the same period and holds 31,615 shares worth $1,979,000 after acquiring 550 shares. Additionally, TAP Consulting LLC raised its position by 2.2% in the second quarter, now owning 32,689 shares valued at $2,046,000 after an addition of 710 shares.

Performance of First Trust Long/Short Equity ETF

As of Friday, the First Trust Long/Short Equity ETF (FTLS) opened at $64.28, showing a trading increase of 1.0%. The ETF has a 50-day moving average of $62.87 and a 200-day moving average of $62.04. The total market capitalization of the fund stands at $1.28 billion, with a price-to-earnings ratio of 19.46 and a beta of 0.62. Over the past twelve months, the ETF has recorded a low of $52.15 and a high of $64.28.

Understanding the First Trust Long/Short Equity ETF

The First Trust Long/Short Equity ETF (FTLS) is designed to primarily invest in long/short alternatives. This exchange-traded fund engages in both long and short positions in US-listed equities, which can include both domestic and foreign exposure. Typically, the actively managed funds will be positioned 90-100% long and 0-50% short. Launched on September 9, 2014, this ETF is managed by First Trust.

Conclusion

The increase in stake by Dynamic Advisor Solutions LLC and other institutional investors reflects growing confidence in the First Trust Long/Short Equity ETF. As it navigates the uncertainties of the market, the movements and significant holdings by larger firms could indicate potential opportunities for other investors looking to enter or expand their positions in similar investment vehicles.

investment, ETF, market