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 growth in short interest in the month of September. As of September 15th, there was short interest totaling 45,115 shares, a growth of 81.5% from the August 31st total of 24,861 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 28,782 shares, the days-to-cover ratio is currently 1.6 days.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

Shares of First Trust NYSE Arca Biotechnology Index Fund stock traded down $2.24 during trading on Thursday, reaching $270.02. The company’s stock had a trading volume of 28,470 shares, compared to its average volume of 111,946. First Trust NYSE Arca Biotechnology Index Fund has a one year low of $182.08 and a one year high of $275.23. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 21.72 and a beta of 0.67. The business’s fifty day moving average price is $263.00 and its 200-day moving average price is $234.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% in the first quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after acquiring an additional 3,508,029 shares during the period. Bank of America Corp DE increased its position in First Trust NYSE Arca Biotechnology Index Fund by 5.7% during the first quarter. Bank of America Corp DE now owns 200,959 shares of the company’s stock worth $40,357,000 after acquiring an additional 10,853 shares during the period. Royal Bank of Canada raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 29.1% during the 1st quarter. Royal Bank of Canada now owns 199,981 shares of the company’s stock valued at $40,160,000 after purchasing an additional 45,112 shares during the last quarter. Nilsine Partners LLC raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 2.3% during the 2nd quarter. Nilsine Partners LLC now owns 97,225 shares of the company’s stock valued at $24,101,000 after purchasing an additional 2,142 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 66,297 shares of the company’s stock valued at $13,314,000 after purchasing an additional 3,427 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.