First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Significant Increase in Short Interest

by · The Markets Daily

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT – Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 50,788 shares, an increase of 62.7% from the February 12th total of 31,210 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 220,973 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 220,973 shares, the short-interest ratio is presently 0.2 days. Currently, 4.8% of the shares of the stock are short sold.

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

Several large investors have recently bought and sold shares of FBT. CPR Investments Inc. bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter valued at $205,000. HF Advisory Group LLC grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 7.8% in the third quarter. HF Advisory Group LLC now owns 1,375 shares of the company’s stock worth $247,000 after purchasing an additional 99 shares during the last quarter. Dominguez Wealth Management Solutions Inc. acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the third quarter valued at $210,000. B. Riley Wealth Advisors Inc. acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at $1,537,000. Finally, Forefront Wealth Partners LLC bought a new position in First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter worth $507,000.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.5%

First Trust NYSE Arca Biotechnology Index Fund stock traded down $0.94 during midday trading on Friday, reaching $192.63. The company’s stock had a trading volume of 118,624 shares, compared to its average volume of 245,641. The stock has a market cap of $202.26 million, a PE ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 52 week low of $141.38 and a 52 week high of $224.94. The business has a 50-day moving average price of $210.00 and a 200-day moving average price of $199.57.

First Trust NYSE Arca Biotechnology Index Fund Company Profile

(Get Free Report)

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.

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