First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Strong Trading Volume – Time to Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw strong trading volume on Wednesday . 91,466 shares were traded during trading, an increase of 128% from the previous session’s volume of 40,045 shares.The stock last traded at $216.4850 and had previously closed at $212.13.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company has a market cap of $1.40 billion, a P/E ratio of 21.72 and a beta of 0.65. The firm’s fifty day moving average is $210.09 and its two-hundred day moving average is $188.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,773 shares of the company’s stock valued at $1,769,000 after buying an additional 212 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in First Trust NYSE Arca Biotechnology Index Fund by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 28,270 shares of the company’s stock valued at $4,561,000 after acquiring an additional 382 shares in the last quarter. Truist Financial Corp increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 12.8% in the 2nd quarter. Truist Financial Corp now owns 45,234 shares of the company’s stock valued at $7,298,000 after acquiring an additional 5,136 shares during the last quarter. Berger Financial Group Inc boosted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.8% during the 2nd quarter. Berger Financial Group Inc now owns 113,019 shares of the company’s stock valued at $18,233,000 after purchasing an additional 2,045 shares during the last quarter. Finally, RMG Wealth Management LLC bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter valued at about $80,000.

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.