First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Strong Trading Volume – Should You Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw an uptick in trading volume on Tuesday . 152,040 shares traded hands during trading, an increase of 462% from the previous session’s volume of 27,036 shares.The stock last traded at $169.56 and had previously closed at $169.20.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company has a market cap of $1.28 billion, a PE ratio of 17.20 and a beta of 0.86. The company has a fifty day moving average of $170.11 and a two-hundred day moving average of $160.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FBT. Cetera Advisors LLC boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 16.9% in the 1st quarter. Cetera Advisors LLC now owns 4,177 shares of the company’s stock worth $642,000 after purchasing an additional 604 shares in the last quarter. CWM LLC raised its holdings in First Trust NYSE Arca Biotechnology Index Fund by 5.2% during the second quarter. CWM LLC now owns 6,303 shares of the company’s stock worth $971,000 after purchasing an additional 311 shares in the last quarter. Maia Wealth LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at approximately $746,000. Cetera Investment Advisers increased its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 325.6% in the 1st quarter. Cetera Investment Advisers now owns 25,190 shares of the company’s stock valued at $3,873,000 after purchasing an additional 19,271 shares in the last quarter. Finally, Juncture Wealth Strategies LLC boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 3.3% during the second quarter. Juncture Wealth Strategies LLC now owns 10,359 shares of the company’s stock valued at $1,595,000 after acquiring an additional 332 shares during 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.