First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Volume Increase – Should You Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw unusually-high trading volume on Tuesday . Approximately 152,040 shares were traded during trading, an increase of 462% from the previous session’s volume of 27,036 shares.The stock last traded at $169.56 and had previously closed at $169.20.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The company has a market cap of $1.28 billion, a PE ratio of 17.20 and a beta of 0.86. The business has a 50 day moving average of $170.13 and a 200 day moving average of $160.01.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lake Street Private Wealth LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 8.3% in the 1st quarter. Lake Street Private Wealth LLC now owns 4,311 shares of the company’s stock worth $663,000 after acquiring an additional 330 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 23.3% during the first quarter. Janney Montgomery Scott LLC now owns 31,242 shares of the company’s stock valued at $4,804,000 after purchasing an additional 5,908 shares during the last quarter. Pecaut & CO. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 4.4% in the 1st quarter. Pecaut & CO. now owns 10,627 shares of the company’s stock worth $1,634,000 after purchasing an additional 446 shares in the last quarter. Anson Capital Inc. increased its position in First Trust NYSE Arca Biotechnology Index Fund by 12.4% during the 1st quarter. Anson Capital Inc. now owns 7,721 shares of the company’s stock valued at $1,187,000 after buying an additional 852 shares in the last quarter. Finally, Capital Wealth Alliance LLC purchased a new position in First Trust NYSE Arca Biotechnology Index Fund during the first quarter valued at $232,000.

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.