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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 35,295 shares, a growth of 79.8% from the April 15th total of 19,633 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 53,486 shares, the days-to-cover ratio is currently 0.7 days.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

Shares of NYSEARCA:FBT opened at $205.53 on Tuesday. The business’s 50 day simple moving average is $202.40 and its 200-day simple moving average is $206.45. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a 12 month low of $157.51 and a 12 month high of $224.94.

Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Several institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth approximately $370,000. Sunbelt Securities Inc. lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 311.1% in the 1st quarter. Sunbelt Securities Inc. now owns 333 shares of the company’s stock valued at $67,000 after buying an additional 252 shares in the last quarter. Royal Bank of Canada lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 29.1% in the 1st quarter. Royal Bank of Canada now owns 199,981 shares of the company’s stock valued at $40,160,000 after buying an additional 45,112 shares in the last quarter. Gateway Wealth Partners LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 174.5% in the 1st quarter. Gateway Wealth Partners LLC now owns 19,654 shares of the company’s stock valued at $3,947,000 after buying an additional 12,495 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 0.5% in the 1st quarter. Modern Wealth Management LLC now owns 41,791 shares of the company’s stock valued at $8,463,000 after buying an additional 213 shares in the last quarter.

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.