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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 21,717 shares, an increase of 169.2% from the June 30th total of 8,067 shares. Based on an average daily volume of 43,175 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

A number of hedge funds have recently made changes to their positions 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 approximately $26,000. AG Campbell Advisory LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at $31,000. Russell Investments Group Ltd. boosted its stake 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 valued at $29,000 after acquiring an additional 158 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter valued at $34,000. Finally, Parallel Advisors LLC boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after acquiring an additional 169 shares during the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.3%

FBT stock traded down $0.65 during midday trading on Monday, hitting $246.74. 42,202 shares of the company’s stock were exchanged, compared to its average volume of 127,391. First Trust NYSE Arca Biotechnology Index Fund has a 12-month low of $161.30 and a 12-month high of $258.20. The firm has a 50 day moving average price of $233.77 and a 200-day moving average price of $216.27. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65.

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.