First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT – Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 6,463 shares, a decline of 70.2% from the July 15th total of 21,717 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 142,636 shares, the days-to-cover ratio is presently 0.0 days.
Hedge Funds Weigh In On First Trust NYSE Arca Biotechnology Index Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBT. High Point Wealth Management LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $26,000. AG Campbell Advisory LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter worth about $31,000. Russell Investments Group Ltd. raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 158 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth about $34,000. Finally, Parallel Advisors LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% in the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after buying an additional 169 shares in the last quarter.
First Trust NYSE Arca Biotechnology Index Fund Price Performance
Shares of FBT stock opened at $258.95 on Thursday. First Trust NYSE Arca Biotechnology Index Fund has a 1-year low of $167.77 and a 1-year high of $260.24. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. The stock has a 50 day simple moving average of $243.33 and a 200-day simple moving average of $219.61.
First Trust NYSE Arca Biotechnology Index Fund Company Profile
The First Trust NYSE Arca Biotechnology Index Fund (FBT) is an exchange-traded fund that is based on the NYSE Arca Biotechnology index. The fund tracks an equal-weighted index of US biotechnology stocks. FBT was launched on Jun 19, 2006 and is managed by First Trust.
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