First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Trading Up 0.6% – Time to Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price shot up 0.6% during mid-day trading on Monday . The stock traded as high as $270.82 and last traded at $269.73. 26,492 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 110,409 shares. The stock had previously closed at $268.15.

First Trust NYSE Arca Biotechnology Index Fund Trading Up 0.6%

The company has a market capitalization of $2.98 billion, a P/E ratio of 21.72 and a beta of 0.67. The business has a 50 day moving average price of $259.46 and a 200 day moving average price of $230.66.

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

Several hedge funds have recently bought and sold shares of FBT. Continuum Advisory LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 2nd quarter valued at $35,000. AG Campbell Advisory LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter worth $31,000. Cassaday & Co Wealth Management LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth $34,000. Parallel Advisors LLC lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the first quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock worth $37,000 after acquiring an additional 169 shares in the last quarter. Finally, Capital Analysts LLC lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 39.3% during the second quarter. Capital Analysts LLC now owns 227 shares of the company’s stock worth $56,000 after acquiring an additional 64 shares in the last quarter.

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.