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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw an uptick in trading volume on Tuesday . 75,831 shares changed hands during trading, an increase of 159% from the previous session’s volume of 29,307 shares.The stock last traded at $177.34 and had previously closed at $176.07.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The company has a 50-day simple moving average of $173.05 and a 200-day simple moving average of $171.27. The firm has a market cap of $1.33 billion, a PE ratio of 17.20 and a beta of 0.86.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sherman Asset Management Inc. purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth approximately $50,000. Aptus Capital Advisors LLC grew its stake in First Trust NYSE Arca Biotechnology Index Fund by 17,250.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 347 shares of the company’s stock worth $58,000 after purchasing an additional 345 shares in the last quarter. Principal Securities Inc. increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 17.0% during the 4th quarter. Principal Securities Inc. now owns 730 shares of the company’s stock worth $121,000 after purchasing an additional 106 shares during the period. PNC Financial Services Group Inc. raised its position in First Trust NYSE Arca Biotechnology Index Fund by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,044 shares of the company’s stock valued at $174,000 after purchasing an additional 60 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 3,248.6% in the 3rd quarter. Blue Trust Inc. now owns 1,172 shares of the company’s stock worth $202,000 after buying an additional 1,137 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.