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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw strong trading volume on Monday . 52,210 shares traded hands 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 Trading Up 0.5 %

The firm has a fifty day moving average of $170.85 and a two-hundred day moving average of $169.53. The company has a market capitalization of $1.36 billion, a PE ratio of 17.20 and a beta of 0.86.

Institutional Inflows and Outflows

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