Short Interest in First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Drops By 38.0%

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 24,273 shares, a decline of 38.0% from the May 14th total of 39,179 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 24,573 shares, the days-to-cover ratio is currently 1.0 days.

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

Large investors have recently modified their holdings of the stock. High Point Wealth Management LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. grew its position in First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% in the third quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Rossby Financial LCC grew its position in First Trust NYSE Arca Biotechnology Index Fund by 160.0% in the third quarter. Rossby Financial LCC now owns 169 shares of the company’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. AG Campbell Advisory LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at $31,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the first quarter valued at $34,000.

First Trust NYSE Arca Biotechnology Index Fund Trading Up 1.0%

NYSEARCA FBT traded up $2.20 on Wednesday, reaching $228.62. The company’s stock had a trading volume of 1,277 shares, compared to its average volume of 132,337. The firm has a market cap of $2.58 billion, a PE ratio of 21.72 and a beta of 0.68. The business has a 50-day moving average price of $212.20 and a 200 day moving average price of $209.43. First Trust NYSE Arca Biotechnology Index Fund has a 52 week low of $157.51 and a 52 week high of $229.55.

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.