First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Volume Increase – Here’s Why

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-strong trading volume on Tuesday . Approximately 75,831 shares changed hands during trading, an increase of 159% from the previous session’s volume of 29,307 shares.The stock last traded at $177.34 and had previously closed at $176.07.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 0.1 %

The stock has a market cap of $1.33 billion, a PE ratio of 17.20 and a beta of 0.86. The business has a 50 day moving average price of $173.05 and a 200 day moving average price of $171.27.

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

A number of large investors have recently bought and sold shares of FBT. Wharton Business Group LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund during the third quarter worth $206,000. Harbour Investments Inc. raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 8.6% during the 3rd quarter. Harbour Investments Inc. now owns 6,602 shares of the company’s stock worth $1,135,000 after purchasing an additional 523 shares during the last quarter. Assetmark Inc. raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 235.8% during the 3rd quarter. Assetmark Inc. now owns 28,452 shares of the company’s stock worth $4,892,000 after purchasing an additional 19,978 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 55.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,156 shares of the company’s stock valued at $7,420,000 after buying an additional 15,347 shares in the last quarter. Finally, Maia Wealth LLC boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 1.3% in the 3rd quarter. Maia Wealth LLC now owns 4,725 shares of the company’s stock worth $795,000 after buying an additional 60 shares during the last quarter.

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.