First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Trading Down 2.4% – Here’s Why

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was down 2.4% on Thursday . The company traded as low as $161.98 and last traded at $162.01. Approximately 13,442 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 24,218 shares. The stock had previously closed at $165.99.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.89 and a beta of 0.70. The stock has a fifty day moving average of $173.38 and a two-hundred day moving average of $171.91.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 2.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 5,306 shares of the company’s stock valued at $882,000 after purchasing an additional 141 shares in the last quarter. Park Avenue Securities LLC lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 10.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,918 shares of the company’s stock valued at $651,000 after buying an additional 365 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,945 shares of the company’s stock worth $2,741,000 after buying an additional 3,275 shares in the last quarter. Financial Enhancement Group LLC grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 32.2% during the 4th quarter. Financial Enhancement Group LLC now owns 4,886 shares of the company’s stock worth $851,000 after buying an additional 1,189 shares during the period. Finally, Richard P Slaughter Associates Inc increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 205.5% in the 4th quarter. Richard P Slaughter Associates Inc now owns 13,559 shares of the company’s stock valued at $2,254,000 after acquiring an additional 9,121 shares in 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.