First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sets New 1-Year High – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $258.25 and last traded at $257.6450, with a volume of 6813 shares traded. The stock had previously closed at $255.93.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The stock has a market capitalization of $2.85 billion, a P/E ratio of 21.72 and a beta of 0.66. The firm’s 50 day moving average price is $240.94 and its 200 day moving average price is $218.75.

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

Several institutional investors and hedge funds have recently bought and sold shares of FBT. High Point Wealth Management LLC purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% in the third 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. AG Campbell Advisory LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at $31,000. Cassaday & Co Wealth Management LLC purchased a new position in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter valued at $34,000. Finally, Parallel Advisors LLC increased its position in First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after purchasing an additional 169 shares during the period.

About First Trust NYSE Arca Biotechnology Index Fund

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.