First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT – Get Free Report) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 22,683 shares, a growth of 251.0% from the July 30th total of 6,463 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 32,141 shares, the days-to-cover ratio is currently 0.7 days.
Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund
Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its position in First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% during the 1st quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock worth $705,900,000 after purchasing an additional 3,508,029 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 4,370.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 577,231 shares of the company’s stock worth $119,210,000 after buying an additional 564,319 shares during the period. 360 Financial Inc. acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter worth $14,887,000. Morgan Stanley grew its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 18.2% during the fourth quarter. Morgan Stanley now owns 401,201 shares of the company’s stock valued at $82,856,000 after buying an additional 61,755 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 30.0% during the fourth quarter. LPL Financial LLC now owns 260,833 shares of the company’s stock valued at $53,867,000 after buying an additional 60,187 shares in the last quarter.
First Trust NYSE Arca Biotechnology Index Fund Price Performance
NYSEARCA FBT traded down $6.49 on Friday, hitting $267.42. 25,591 shares of the company were exchanged, compared to its average volume of 117,613. First Trust NYSE Arca Biotechnology Index Fund has a twelve month low of $171.61 and a twelve month high of $274.81. The firm has a market capitalization of $2.95 billion, a P/E ratio of 21.72 and a beta of 0.66. The company’s 50 day moving average price is $252.29 and its 200-day moving average price is $223.58.
About First Trust NYSE Arca Biotechnology Index Fund
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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