First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Hits New 52-Week High – Time to Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $275.23 and last traded at $274.4160, with a volume of 57653 shares. The stock had previously closed at $272.58.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The stock has a market capitalization of $2.99 billion, a P/E ratio of 21.72 and a beta of 0.67. The company’s fifty day simple moving average is $262.45 and its two-hundred day simple moving average is $233.70.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC lifted its position in First Trust NYSE Arca Biotechnology Index Fund by 307.5% during the second quarter. MCF Advisors LLC now owns 489 shares of the company’s stock worth $121,000 after purchasing an additional 369 shares during the period. Capital Analysts LLC boosted its position in First Trust NYSE Arca Biotechnology Index Fund by 39.3% in the second quarter. Capital Analysts LLC now owns 227 shares of the company’s stock valued at $56,000 after buying an additional 64 shares in the last quarter. RFG Advisory LLC grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 157.0% during the second quarter. RFG Advisory LLC now owns 4,871 shares of the company’s stock worth $1,207,000 after buying an additional 2,976 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 2.1% during the second quarter. IFP Advisors Inc now owns 13,369 shares of the company’s stock worth $3,314,000 after buying an additional 279 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the second quarter worth $996,000.

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.