First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Shares Down 2.4% – What’s Next?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s share price fell 2.4% on Thursday . The stock traded as low as $161.98 and last traded at $162.01. 13,442 shares traded hands during trading, a decline of 44% from the average session volume of 24,218 shares. The stock had previously closed at $165.99.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company’s 50 day simple moving average is $172.84 and its 200 day simple moving average is $171.78. The stock has a market cap of $1.01 billion, a PE ratio of 24.89 and a beta of 0.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FBT. Juncture Wealth Strategies LLC increased its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 7.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 11,318 shares of the company’s stock valued at $1,881,000 after purchasing an additional 777 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 5,306 shares of the company’s stock worth $882,000 after buying an additional 141 shares during the last quarter. Park Avenue Securities LLC raised its position in First Trust NYSE Arca Biotechnology Index Fund by 10.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,918 shares of the company’s stock worth $651,000 after acquiring an additional 365 shares during the period. JPMorgan Chase & Co. boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 15,945 shares of the company’s stock valued at $2,741,000 after acquiring an additional 3,275 shares during the last quarter. Finally, Financial Enhancement Group LLC grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 32.2% during the 4th quarter. Financial Enhancement Group LLC now owns 4,886 shares of the company’s stock valued at $851,000 after acquiring an additional 1,189 shares during the period.

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.