First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 1-Year High – Here’s Why

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) reached a new 52-week high on Friday . The company traded as high as $191.00 and last traded at $190.41, with a volume of 583 shares. The stock had previously closed at $189.36.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company has a 50 day simple moving average of $179.72 and a 200 day simple moving average of $167.82. The company has a market capitalization of $1.15 billion, a PE ratio of 21.72 and a beta of 0.79.

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

Several large investors have recently bought and sold shares of FBT. Kingstone Capital Partners Texas LLC increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 913,142.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 15,324,213 shares of the company’s stock worth $2,352,314,000 after buying an additional 15,322,535 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth approximately $13,065,000. Cetera Investment Advisers purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter worth approximately $7,364,000. Arlington Financial Advisors LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter worth approximately $4,309,000. Finally, RPG Investment Advisory LLC increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 98.7% during the 1st quarter. RPG Investment Advisory LLC now owns 52,098 shares of the company’s stock worth $8,863,000 after buying an additional 25,874 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.