First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Volume Increase – Here’s What Happened

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw strong trading volume on Friday . 83,080 shares were traded during mid-day trading, an increase of 298% from the previous session’s volume of 20,864 shares.The stock last traded at $206.9980 and had previously closed at $206.52.

First Trust NYSE Arca Biotechnology Index Fund Stock Up 0.6%

The company has a market capitalization of $1.34 billion, a P/E ratio of 21.72 and a beta of 0.65. The company has a 50 day simple moving average of $205.24 and a two-hundred day simple moving average of $184.01.

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

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 158 shares in the last quarter. Rossby Financial LCC boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 160.0% in the third quarter. Rossby Financial LCC now owns 169 shares of the company’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 63.1% in the third quarter. Capital Investment Advisory Services LLC now owns 181 shares of the company’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 101.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 201 shares of the company’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter worth $61,000.

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.