First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Short Interest Down 70.2% in July

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 6,463 shares, a drop of 70.2% from the July 15th total of 21,717 shares. Based on an average trading volume of 142,636 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold.

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

Hedge funds have recently bought and sold shares of the stock. Compass Financial Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at $146,000. Ocean Park Asset Management LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter worth about $2,213,000. Wealthcare Advisory Partners LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter worth about $221,000. HF Advisory Group LLC raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 5.0% in the 2nd quarter. HF Advisory Group LLC now owns 1,270 shares of the company’s stock valued at $315,000 after purchasing an additional 60 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 1,113.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,007 shares of the company’s stock valued at $250,000 after purchasing an additional 924 shares during the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

Shares of NYSEARCA FBT traded down $0.65 on Friday, hitting $255.42. The company’s stock had a trading volume of 41,294 shares, compared to its average volume of 121,386. The stock has a 50 day moving average of $244.59 and a 200-day moving average of $220.12. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a 12-month low of $171.00 and a 12-month high of $260.46.

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.