First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Trading Down 0.7% – Should You Sell?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price dropped 0.7% on Monday . The company traded as low as $221.15 and last traded at $221.15. Approximately 21,871 shares traded hands during trading, a decline of 84% from the average daily volume of 139,583 shares. The stock had previously closed at $222.75.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 0.7%

The firm’s 50-day moving average price is $208.89 and its 200-day moving average price is $208.66. The company has a market cap of $2.50 billion, a P/E ratio of 21.72 and a beta of 0.68.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of FBT. First Trust Advisors LP raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 0.8% in the second quarter. First Trust Advisors LP now owns 8,393 shares of the company’s stock valued at $1,355,000 after purchasing an additional 66 shares during the period. Baird Financial Group Inc. raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 12.9% in the second quarter. Baird Financial Group Inc. now owns 8,039 shares of the company’s stock valued at $1,297,000 after purchasing an additional 916 shares during the period. Benjamin Edwards Inc. raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 40.5% in the second quarter. Benjamin Edwards Inc. now owns 28,808 shares of the company’s stock valued at $4,648,000 after purchasing an additional 8,304 shares during the period. Two Sigma Securities LLC raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 56.5% in the second quarter. Two Sigma Securities LLC now owns 2,001 shares of the company’s stock valued at $323,000 after purchasing an additional 722 shares during the period. Finally, Corient Private Wealth LLC bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at approximately $692,000.

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.