First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Short Interest Up 251.0% in August

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 22,683 shares, a growth of 251.0% from the July 30th total of 6,463 shares. Based on an average daily trading volume, of 32,141 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are short sold.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 2.5%

Shares of FBT stock opened at $266.95 on Friday. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a fifty-two week low of $171.61 and a fifty-two week high of $274.81. The firm’s 50 day moving average price is $253.06 and its two-hundred day moving average price is $223.88.

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

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 4,370.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 577,231 shares of the company’s stock valued at $119,210,000 after purchasing an additional 564,319 shares in the last quarter. Summit Wealth Group LLC Co. purchased a new position in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $416,000. Ameritas Advisory Services LLC lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 12,410.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 29,901 shares of the company’s stock worth $6,175,000 after purchasing an additional 29,662 shares in the last quarter. Dynamic Wealth Strategies LLC lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 10.8% during the fourth quarter. Dynamic Wealth Strategies LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter worth about $1,045,000.

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.