First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-strong trading volume on Thursday . Approximately 35,359 shares changed hands during trading, an increase of 40% from the previous session’s volume of 25,202 shares.The stock last traded at $167.20 and had previously closed at $168.23.

First Trust NYSE Arca Biotechnology Index Fund Stock Up 1.4 %

The company has a market cap of $1.12 billion, a price-to-earnings ratio of 24.18 and a beta of 0.70. The company’s fifty day moving average price is $175.09 and its two-hundred day moving average price is $172.03.

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

Several hedge funds have recently bought and sold shares of FBT. Bank of America Corp DE lifted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 6.7% during the 4th quarter. Bank of America Corp DE now owns 218,504 shares of the company’s stock worth $36,318,000 after buying an additional 13,683 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 5.7% during the fourth quarter. LPL Financial LLC now owns 187,279 shares of the company’s stock worth $31,128,000 after acquiring an additional 10,161 shares during the period. Raymond James Financial Inc. acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at approximately $27,765,000. Berger Financial Group Inc increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.3% during the fourth quarter. Berger Financial Group Inc now owns 154,272 shares of the company’s stock worth $25,642,000 after purchasing an additional 1,969 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 4.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 113,555 shares of the company’s stock worth $18,874,000 after purchasing an additional 4,878 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.