First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Shares Gap Down – Here’s What Happened

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $273.91, but opened at $265.60. First Trust NYSE Arca Biotechnology Index Fund shares last traded at $264.8590, with a volume of 2,258 shares.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company’s 50-day simple moving average is $253.06 and its 200 day simple moving average is $223.97. The company has a market cap of $2.94 billion, a PE ratio of 21.72 and a beta of 0.66.

Hedge Funds Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in shares of 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 worth $29,000 after buying an additional 158 shares during the last quarter. AG Campbell Advisory LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth approximately $31,000. Cassaday & Co Wealth Management LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the first quarter worth approximately $34,000. Continuum Advisory LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter worth $35,000. Finally, Parallel Advisors LLC raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% in the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after acquiring an additional 169 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.