First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 1-Year Low – Here’s What Happened

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $8.50 and last traded at $194.42, with a volume of 900 shares. The stock had previously closed at $190.10.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.3%

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. The firm’s 50-day moving average is $183.58 and its two-hundred day moving average is $170.53.

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

A number of institutional investors and hedge funds have recently bought and sold shares of FBT. Glassman Wealth Services purchased a new position in First Trust NYSE Arca Biotechnology Index Fund during the first quarter worth approximately $27,000. Capital Investment Advisory Services LLC increased its position in First Trust NYSE Arca Biotechnology Index Fund by 63.1% during the third quarter. Capital Investment Advisory Services LLC now owns 181 shares of the company’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 101.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 201 shares of the company’s stock worth $36,000 after purchasing an additional 101 shares during the period. Founders Financial Alliance LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at about $61,000. Finally, Capital Analysts LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the 1st quarter valued at approximately $71,000.

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.