Short Interest in First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Declines By 74.2%

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 8,067 shares, a drop of 74.2% from the June 15th total of 31,278 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 116,884 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Several hedge funds have recently modified their holdings of the stock. High Point Wealth Management LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the third quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock worth $29,000 after buying an additional 158 shares in the last quarter. AG Campbell Advisory LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth about $31,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the first quarter worth approximately $34,000. Finally, Parallel Advisors LLC increased its stake in shares of 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 buying an additional 169 shares during the period.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 2.5%

First Trust NYSE Arca Biotechnology Index Fund stock traded down $6.42 during trading on Friday, hitting $249.59. The company had a trading volume of 31,375 shares, compared to its average volume of 128,430. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 1-year low of $158.92 and a 1-year high of $258.20. The company’s 50 day simple moving average is $226.32 and its 200-day simple moving average is $213.70.

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.