First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Here’s Why

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-high trading volume on Tuesday . Approximately 75,831 shares were traded 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 Performance

The stock has a market cap of $1.34 billion, a P/E ratio of 17.20 and a beta of 0.86. The firm’s fifty day simple moving average is $173.23 and its 200-day simple moving average is $171.36.

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

A number of hedge funds have recently added to or reduced their stakes in FBT. Wharton Business Group LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter worth approximately $206,000. Harbour Investments Inc. boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 8.6% in the 3rd quarter. Harbour Investments Inc. now owns 6,602 shares of the company’s stock valued at $1,135,000 after purchasing an additional 523 shares during the period. Assetmark Inc. boosted 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 valued at $4,892,000 after acquiring an additional 19,978 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in First Trust NYSE Arca Biotechnology Index Fund by 55.2% during the third quarter. Janney Montgomery Scott LLC now owns 43,156 shares of the company’s stock valued at $7,420,000 after purchasing an additional 15,347 shares during the last quarter. Finally, Maia Wealth LLC increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 1.3% in the third quarter. Maia Wealth LLC now owns 4,725 shares of the company’s stock valued at $795,000 after acquiring 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.