First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Significant Increase in Short Interest

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 22,683 shares, a growth of 251.0% from the July 30th total of 6,463 shares. Based on an average daily volume of 32,141 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBT. Continuum Advisory LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the second quarter valued at $35,000. AG Campbell Advisory LLC bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. boosted 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 purchasing an additional 158 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in First Trust NYSE Arca Biotechnology Index Fund during the first quarter valued at about $34,000. Finally, Parallel Advisors LLC boosted its position in shares of 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 in the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.1%

Shares of FBT opened at $272.07 on Thursday. The stock has a 50 day moving average of $251.39 and a 200-day moving average of $223.15. First Trust NYSE Arca Biotechnology Index Fund has a 52 week low of $171.18 and a 52 week high of $273.14. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66.

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.