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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 55,046 shares, an increase of 53.6% from the December 31st total of 35,837 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 38,396 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 38,396 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.8% of the shares of the stock are sold short.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 1.9%

Shares of NYSEARCA FBT traded down $4.09 during midday trading on Friday, reaching $212.93. 57,173 shares of the company were exchanged, compared to its average volume of 427,959. The stock’s 50-day moving average price is $212.76 and its 200-day moving average price is $191.35. The stock has a market cap of $223.58 million, a P/E ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a one year low of $141.38 and a one year high of $224.94.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Institutional investors have recently added to or reduced their stakes in the stock. High Point Wealth Management LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth $26,000. Russell Investments Group Ltd. grew its holdings in 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 acquiring an additional 158 shares during the period. Rossby Financial LCC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 160.0% during the 3rd quarter. Rossby Financial LCC now owns 169 shares of the company’s stock worth $31,000 after acquiring an additional 104 shares during the period. Capital Investment Advisory Services LLC lifted its stake in shares of 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 valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 101.0% in the 3rd 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.

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.