First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Trading Down 1.8% – Should You Sell?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s share price traded down 1.8% during trading on Tuesday . The company traded as low as $167.22 and last traded at $168.46. 15,170 shares were traded during trading, a decline of 41% from the average session volume of 25,921 shares. The stock had previously closed at $171.49.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 0.8 %

The firm has a 50-day moving average price of $175.08 and a two-hundred day moving average price of $172.07. The firm has a market cap of $1.10 billion, a PE ratio of 24.18 and a beta of 0.70.

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

A number of hedge funds have recently modified their holdings of FBT. Harbour Investments Inc. increased its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 8.6% in the third 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 last quarter. Wharton Business Group LLC purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter worth $206,000. Prospera Financial Services Inc raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 99.7% during the 3rd quarter. Prospera Financial Services Inc now owns 10,251 shares of the company’s stock worth $1,762,000 after acquiring an additional 5,118 shares during the period. Moors & Cabot Inc. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 4.0% during the 3rd quarter. Moors & Cabot Inc. now owns 9,703 shares of the company’s stock valued at $1,668,000 after acquiring an additional 374 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the third quarter valued at about $601,000.

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.