First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Hits New 1-Year High – Should You Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $278.11 and last traded at $277.7940, with a volume of 13,111 shares. The stock had previously closed at $273.73.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The stock has a market capitalization of $3.10 billion, a PE ratio of 21.72 and a beta of 0.66. The company has a 50 day moving average price of $268.86 and a 200-day moving average price of $232.72.

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

Several large investors have recently made changes to their positions in the business. HF Advisory Group LLC boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 5.0% in the 2nd quarter. HF Advisory Group LLC now owns 1,270 shares of the company’s stock worth $315,000 after purchasing an additional 60 shares in the last quarter. American Financial Advisors LLC increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 3.2% during the 1st quarter. American Financial Advisors LLC now owns 2,013 shares of the company’s stock valued at $404,000 after purchasing an additional 62 shares in the last quarter. Capital Analysts LLC increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 39.3% during the 2nd quarter. Capital Analysts LLC now owns 227 shares of the company’s stock valued at $56,000 after purchasing an additional 64 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.5% in the third quarter. Robertson Stephens Wealth Management LLC now owns 4,241 shares of the company’s stock worth $1,155,000 after buying an additional 103 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in First Trust NYSE Arca Biotechnology Index Fund by 11.5% in the third quarter. MGO One Seven LLC now owns 1,069 shares of the company’s stock worth $291,000 after buying an additional 110 shares during the last quarter.

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.