First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Significant Increase in Short Interest

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 35,837 shares, a growth of 325.0% from the December 15th total of 8,433 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 16,981 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily volume of 16,981 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.6% of the shares of the company are short sold.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 158 shares during the period. Rossby Financial LCC grew its position in First Trust NYSE Arca Biotechnology Index Fund by 160.0% in the 3rd quarter. Rossby Financial LCC now owns 169 shares of the company’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in First Trust NYSE Arca Biotechnology Index Fund by 63.1% in the 3rd 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. increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 101.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 201 shares of the company’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Founders Financial Alliance LLC bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter valued at approximately $61,000.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

Shares of NYSEARCA FBT traded down $0.80 during mid-day trading on Tuesday, hitting $212.35. The company had a trading volume of 7,094 shares, compared to its average volume of 36,337. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 12 month low of $141.38 and a 12 month high of $220.14. The firm’s 50 day simple moving average is $208.04 and its two-hundred day simple moving average is $186.44.

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.