First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 12-Month High – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $229.55 and last traded at $229.1060, with a volume of 1277 shares traded. The stock had previously closed at $226.42.

First Trust NYSE Arca Biotechnology Index Fund Stock Up 0.6%

The stock has a market cap of $2.59 billion, a P/E ratio of 21.72 and a beta of 0.68. The firm’s 50 day simple moving average is $213.29 and its two-hundred day simple moving average is $209.62.

Institutional Investors 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. High Point Wealth Management LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth approximately $26,000. AG Campbell Advisory LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at approximately $31,000. Russell Investments Group Ltd. raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 158 shares in the last quarter. Rossby Financial LCC raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 160.0% during the 3rd quarter. Rossby Financial LCC now owns 169 shares of the company’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth $34,000.

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.