First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw unusually-high trading volume on Thursday . Approximately 35,359 shares were traded during mid-day trading, an increase of 40% from the previous session’s volume of 25,202 shares.The stock last traded at $167.20 and had previously closed at $168.23.

First Trust NYSE Arca Biotechnology Index Fund Trading Up 1.4 %

The stock’s 50-day simple moving average is $175.09 and its 200-day simple moving average is $172.03. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 24.18 and a beta of 0.70.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 8.6% during the 3rd quarter. Harbour Investments Inc. now owns 6,602 shares of the company’s stock worth $1,135,000 after acquiring an additional 523 shares in the last quarter. Wharton Business Group LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at $206,000. Prospera Financial Services Inc increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 99.7% in the 3rd quarter. Prospera Financial Services Inc now owns 10,251 shares of the company’s stock valued at $1,762,000 after purchasing an additional 5,118 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 4.0% during the 3rd quarter. Moors & Cabot Inc. now owns 9,703 shares of the company’s stock worth $1,668,000 after buying an additional 374 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter worth $601,000.

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.