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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 45,115 shares, an increase of 81.5% from the August 31st total of 24,861 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 28,782 shares, the days-to-cover ratio is presently 1.6 days.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

Shares of FBT traded down $0.32 during mid-day trading on Wednesday, reaching $272.26. The company’s stock had a trading volume of 101,442 shares, compared to its average volume of 112,409. First Trust NYSE Arca Biotechnology Index Fund has a 12-month low of $180.30 and a 12-month high of $275.23. The stock has a market cap of $2.97 billion, a PE ratio of 21.72 and a beta of 0.67. The company’s 50 day moving average is $262.45 and its 200 day moving average is $233.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its position in First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% in the 1st quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after buying an additional 3,508,029 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 5.7% in the first quarter. Bank of America Corp DE now owns 200,959 shares of the company’s stock valued at $40,357,000 after purchasing an additional 10,853 shares during the period. Royal Bank of Canada boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 29.1% during the first quarter. Royal Bank of Canada now owns 199,981 shares of the company’s stock worth $40,160,000 after buying an additional 45,112 shares in the last quarter. Nilsine Partners LLC boosted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 2.3% during the second quarter. Nilsine Partners LLC now owns 97,225 shares of the company’s stock worth $24,101,000 after buying an additional 2,142 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 5.5% in the first quarter. Cetera Investment Advisers now owns 66,297 shares of the company’s stock valued at $13,314,000 after buying an additional 3,427 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.