First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Volume Increase

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-strong trading volume on Friday . Approximately 42,639 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 25,333 shares.The stock last traded at $172.18 and had previously closed at $170.77.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The firm’s 50 day moving average is $167.78 and its 200-day moving average is $157.27. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 17.20 and a beta of 0.86.

Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Several institutional investors and hedge funds have recently modified their holdings of FBT. Jones Financial Companies Lllp acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter worth about $201,000. Anson Capital Inc. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 11.2% in the fourth quarter. Anson Capital Inc. now owns 6,869 shares of the company’s stock valued at $1,086,000 after acquiring an additional 691 shares during the period. Belpointe Asset Management LLC grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 28.4% in the fourth quarter. Belpointe Asset Management LLC now owns 1,889 shares of the company’s stock worth $299,000 after acquiring an additional 418 shares during the last quarter. Bedell Frazier Investment Counselling LLC increased its position in First Trust NYSE Arca Biotechnology Index Fund by 56.4% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 9,939 shares of the company’s stock worth $1,571,000 after acquiring an additional 3,586 shares during the period. Finally, Novak & Powell Financial Services Inc. acquired a new position in First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter valued at $270,000.

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.