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 significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 85,653 shares, an increase of 141.4% from the October 15th total of 35,484 shares. Based on an average daily trading volume, of 61,521 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.8% of the company’s shares are sold short.

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

Several hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its position in First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% during the 1st quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after purchasing an additional 3,508,029 shares during the period. Bank of America Corp DE raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 5.7% in the 1st quarter. Bank of America Corp DE now owns 200,959 shares of the company’s stock valued at $40,357,000 after purchasing an additional 10,853 shares in the last quarter. Royal Bank of Canada lifted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 29.1% in the 1st quarter. Royal Bank of Canada now owns 199,981 shares of the company’s stock worth $40,160,000 after purchasing an additional 45,112 shares during the period. Nilsine Partners LLC lifted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 2.3% in the 2nd quarter. Nilsine Partners LLC now owns 97,225 shares of the company’s stock worth $24,101,000 after purchasing an additional 2,142 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 6,369.5% in the 3rd quarter. International Assets Investment Management LLC now owns 70,000 shares of the company’s stock worth $19,058,000 after purchasing an additional 68,918 shares during the period.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.1%

Shares of NYSEARCA FBT traded down $0.14 during midday trading on Friday, hitting $271.03. The company’s stock had a trading volume of 341,501 shares, compared to its average volume of 106,515. First Trust NYSE Arca Biotechnology Index Fund has a 12-month low of $189.47 and a 12-month high of $283.21. The firm has a market cap of $3.02 billion, a P/E ratio of 28.61 and a beta of 0.68. The business’s 50 day moving average is $269.39 and its two-hundred day moving average is $235.84.

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.