Short Interest in First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Drops By 70.2%

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 6,463 shares, a decline of 70.2% from the July 15th total of 21,717 shares. Based on an average trading volume of 142,636 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.1% of the shares of the company are short sold.

First Trust NYSE Arca Biotechnology Index Fund Trading Up 0.1%

First Trust NYSE Arca Biotechnology Index Fund stock opened at $258.95 on Thursday. The firm has a market cap of $2.86 billion, a PE ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a 12 month low of $167.77 and a 12 month high of $260.24. The stock’s 50 day simple moving average is $243.33 and its two-hundred day simple moving average is $219.61.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

A number of hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% in the first quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after buying an additional 3,508,029 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 4,370.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 577,231 shares of the company’s stock worth $119,210,000 after acquiring an additional 564,319 shares in the last quarter. Morgan Stanley grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 18.2% during the 4th quarter. Morgan Stanley now owns 401,201 shares of the company’s stock valued at $82,856,000 after acquiring an additional 61,755 shares during the period. LPL Financial LLC grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 30.0% during the 4th quarter. LPL Financial LLC now owns 260,833 shares of the company’s stock valued at $53,867,000 after acquiring an additional 60,187 shares during the period. Finally, Bank of America Corp DE grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 5.7% during the 1st quarter. Bank of America Corp DE now owns 200,959 shares of the company’s stock valued at $40,357,000 after acquiring an additional 10,853 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.