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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-high trading volume on Monday . Approximately 52,210 shares were traded during mid-day trading, an increase of 83% from the previous session’s volume of 28,506 shares.The stock last traded at $180.98 and had previously closed at $179.35.

First Trust NYSE Arca Biotechnology Index Fund Stock Up 0.5 %

The company has a 50 day simple moving average of $170.85 and a 200 day simple moving average of $169.53. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 17.20 and a beta of 0.86.

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

Several hedge funds and other institutional investors have recently bought and sold shares of FBT. Marshall Wace LLP acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at approximately $302,000. NewEdge Advisors LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 246.1% during the second quarter. NewEdge Advisors LLC now owns 13,164 shares of the company’s stock valued at $2,027,000 after acquiring an additional 9,360 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 4.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,085 shares of the company’s stock worth $937,000 after buying an additional 236 shares in the last quarter. Gateway Wealth Partners LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 3.8% during the second quarter. Gateway Wealth Partners LLC now owns 1,656 shares of the company’s stock valued at $255,000 after purchasing an additional 61 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 5.5% during the 2nd quarter. Truist Financial Corp now owns 44,570 shares of the company’s stock worth $6,863,000 after acquiring an additional 2,320 shares in the last quarter.

About First Trust NYSE Arca Biotechnology Index Fund

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.