Short Interest in First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Increases By 79.8%

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 35,295 shares, an increase of 79.8% from the April 15th total of 19,633 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 53,486 shares, the days-to-cover ratio is presently 0.7 days.

First Trust NYSE Arca Biotechnology Index Fund Trading Up 0.5%

Shares of FBT stock opened at $206.63 on Wednesday. The company’s 50-day moving average price is $202.57 and its 200-day moving average price is $206.58. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a twelve month low of $157.51 and a twelve month high of $224.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FBT. First Trust Advisors LP boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% during the 1st quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after acquiring an additional 3,508,029 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in First Trust NYSE Arca Biotechnology Index Fund by 4,370.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 577,231 shares of the company’s stock valued at $119,210,000 after buying an additional 564,319 shares during the last quarter. 360 Financial Inc. acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $14,887,000. Stonebridge Financial Group LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $14,734,000. Finally, Morgan Stanley lifted its position in First Trust NYSE Arca Biotechnology Index Fund by 18.2% in the fourth quarter. Morgan Stanley now owns 401,201 shares of the company’s stock valued at $82,856,000 after buying an additional 61,755 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.