First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Short Interest Down 74.2% in June

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 8,067 shares, a decrease of 74.2% from the June 15th total of 31,278 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 116,884 shares, the days-to-cover ratio is presently 0.1 days.

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

A number of hedge funds have recently modified their holdings of the stock. High Point Wealth Management LLC purchased a new position in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $26,000. Russell Investments Group Ltd. raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 158 shares in the last quarter. AG Campbell Advisory LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter valued at about $31,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter valued at about $34,000. Finally, Parallel Advisors LLC lifted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after buying an additional 169 shares during the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 0.8%

FBT stock opened at $247.54 on Tuesday. The company has a 50 day moving average of $227.17 and a two-hundred day moving average of $213.94. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 12-month low of $158.92 and a 12-month high of $258.20.

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.