First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Shares Down 1.3% – Time to Sell?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s share price dropped 1.3% during trading on Thursday . The company traded as low as $208.70 and last traded at $211.29. Approximately 26,325 shares traded hands during trading, a decline of 83% from the average daily volume of 158,089 shares. The stock had previously closed at $214.10.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 1.3%

The stock has a 50 day simple moving average of $201.78 and a 200 day simple moving average of $205.46. The stock has a market cap of $2.39 billion, a P/E ratio of 21.72 and a beta of 0.66.

Hedge Funds Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of FBT. High Point Wealth Management LLC bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at $26,000. Russell Investments Group Ltd. increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 158 shares during the last quarter. Rossby Financial LCC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 160.0% in the 3rd quarter. Rossby Financial LCC now owns 169 shares of the company’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. AG Campbell Advisory LLC bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at $31,000. Finally, Capital Investment Advisory Services LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 63.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 181 shares of the company’s stock valued at $32,000 after purchasing an additional 70 shares during 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.