First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $170.96 and traded as high as $172.80. First Trust NYSE Arca Biotechnology Index Fund shares last traded at $172.67, with a volume of 19,208 shares.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The company has a 50 day simple moving average of $170.96 and a 200-day simple moving average of $163.65. The stock has a market cap of $1.30 billion, a P/E ratio of 17.20 and a beta of 0.86.

Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at about $203,000. MML Investors Services LLC lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 2.2% in the 3rd quarter. MML Investors Services LLC now owns 3,888 shares of the company’s stock valued at $669,000 after acquiring an additional 84 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at about $912,000. Stifel Financial Corp lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 4.1% in the 3rd quarter. Stifel Financial Corp now owns 34,377 shares of the company’s stock valued at $5,910,000 after acquiring an additional 1,339 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 16,360 shares of the company’s stock valued at $2,817,000 after acquiring an additional 156 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.