First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Short Interest Up 62.7% in February

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 50,788 shares, an increase of 62.7% from the February 12th total of 31,210 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 220,973 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 220,973 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AG Campbell Advisory LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter worth $31,000. Corient Private Wealth LLC raised its holdings in First Trust NYSE Arca Biotechnology Index Fund by 593.5% during the fourth quarter. Corient Private Wealth LLC now owns 23,962 shares of the company’s stock valued at $4,949,000 after buying an additional 20,507 shares in the last quarter. Pacific Excel Wealth Advisors Inc. acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter worth about $647,000. Cetera Investment Advisers lifted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 19.1% in the fourth quarter. Cetera Investment Advisers now owns 62,870 shares of the company’s stock worth $12,984,000 after buying an additional 10,064 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 6.2% during the 4th quarter. Kovack Advisors Inc. now owns 1,612 shares of the company’s stock worth $333,000 after acquiring an additional 94 shares in the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

FBT traded down $0.94 during midday trading on Friday, hitting $192.63. 118,624 shares of the company’s stock traded hands, compared to its average volume of 245,641. The company has a market cap of $202.26 million, a PE ratio of 21.72 and a beta of 0.65. The stock’s fifty day simple moving average is $210.30 and its 200-day simple moving average is $199.22. First Trust NYSE Arca Biotechnology Index Fund has a one year low of $141.38 and a one year high of $224.94.

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.