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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw strong trading volume on Thursday . 79,809 shares changed hands during trading, an increase of 170% from the previous session’s volume of 29,609 shares.The stock last traded at $172.70 and had previously closed at $173.55.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The company has a market capitalization of $1.31 billion, a P/E ratio of 17.20 and a beta of 0.86. The business has a 50-day moving average of $170.45 and a 200-day moving average of $168.30.

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

Hedge funds have recently added to or reduced their stakes in the company. Iams Wealth Management LLC purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter worth approximately $799,000. Koshinski Asset Management Inc. purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at $576,000. Juncture Wealth Strategies LLC raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.8% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 10,541 shares of the company’s stock worth $1,812,000 after acquiring an additional 182 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund during the second quarter valued at about $1,040,000. Finally, Marshall Wace LLP purchased a new position in First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at about $302,000.

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.