First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Hits New 12-Month High – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $272.91 and last traded at $272.02, with a volume of 49511 shares traded. The stock had previously closed at $268.96.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The firm’s fifty day moving average is $249.58 and its 200 day moving average is $222.28. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66.

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

Hedge funds have recently added to or reduced their stakes in the stock. Nilsine Partners LLC lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.3% during the 2nd quarter. Nilsine Partners LLC now owns 97,225 shares of the company’s stock worth $24,101,000 after buying an additional 2,142 shares in the last quarter. Nvest Financial LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 2nd quarter valued at $369,000. Asset Allocation Strategies LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the second quarter worth about $334,000. Compass Financial Management LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the second quarter worth $146,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 15.2% during the second quarter. TD Waterhouse Canada Inc. now owns 47,342 shares of the company’s stock worth $11,796,000 after buying an additional 6,237 shares during the period.

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.