First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Shares Down 0.5% – Here’s What Happened

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was down 0.5% during mid-day trading on Friday . The stock traded as low as $166.08 and last traded at $167.18. Approximately 7,851 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 26,785 shares. The stock had previously closed at $167.98.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The stock’s 50 day moving average is $170.93 and its 200 day moving average is $166.79. The company has a market capitalization of $1.26 billion, a PE ratio of 17.20 and a beta of 0.86.

Hedge Funds Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 15,945 shares of the company’s stock valued at $2,741,000 after acquiring an additional 3,275 shares during the period. Garden State Investment Advisory Services LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter worth approximately $4,494,000. Synovus Financial Corp bought a new position in First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at $203,000. MML Investors Services LLC boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.2% in the 3rd quarter. MML Investors Services LLC now owns 3,888 shares of the company’s stock valued at $669,000 after purchasing an additional 84 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter valued at $912,000.

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.