First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 1-Year High – What’s Next?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $255.39 and last traded at $254.5860, with a volume of 39971 shares traded. The stock had previously closed at $255.37.

First Trust NYSE Arca Biotechnology Index Fund Stock Up 1.4%

The stock has a market capitalization of $2.87 billion, a P/E ratio of 21.72 and a beta of 0.65. The business’s 50 day simple moving average is $221.22 and its two-hundred day simple moving average is $212.13.

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

Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 0.8% during the 2nd quarter. First Trust Advisors LP now owns 8,393 shares of the company’s stock valued at $1,355,000 after acquiring an additional 66 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 12.9% during the 2nd quarter. Baird Financial Group Inc. now owns 8,039 shares of the company’s stock worth $1,297,000 after acquiring an additional 916 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 40.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 28,808 shares of the company’s stock worth $4,648,000 after acquiring an additional 8,304 shares in the last quarter. Two Sigma Securities LLC grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 56.5% in the 2nd quarter. Two Sigma Securities LLC now owns 2,001 shares of the company’s stock worth $323,000 after acquiring an additional 722 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at about $692,000.

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.