First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Short Interest Down 74.2% in June

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 8,067 shares, a decline of 74.2% from the June 15th total of 31,278 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 116,884 shares, the days-to-cover ratio is currently 0.1 days.

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

A number of institutional investors have recently added to or reduced their stakes in FBT. High Point Wealth Management LLC purchased a new position in First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth about $26,000. AG Campbell Advisory LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. increased its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock worth $29,000 after buying an additional 158 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 1st quarter valued at approximately $34,000. Finally, Parallel Advisors LLC raised its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the 1st quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after buying an additional 169 shares during the period.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

NYSEARCA FBT traded down $6.42 during trading hours on Friday, reaching $249.59. The company’s stock had a trading volume of 31,375 shares, compared to its average volume of 128,430. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 1-year low of $158.92 and a 1-year high of $258.20. The company’s 50-day moving average is $226.32 and its two-hundred day moving average is $213.70.

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.