First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 52-Week High – Time to Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $261.58 and last traded at $261.0350, with a volume of 3594 shares traded. The stock had previously closed at $259.63.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The business has a 50 day moving average of $245.36 and a 200-day moving average of $220.40. The company has a market capitalization of $2.89 billion, a P/E ratio of 21.72 and a beta of 0.66.

Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 4,370.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 577,231 shares of the company’s stock valued at $119,210,000 after purchasing an additional 564,319 shares in the last quarter. 360 Financial Inc. bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter valued at about $14,887,000. Morgan Stanley increased its stake in First Trust NYSE Arca Biotechnology Index Fund by 18.2% in the 4th quarter. Morgan Stanley now owns 401,201 shares of the company’s stock worth $82,856,000 after purchasing an additional 61,755 shares during the period. Finally, LPL Financial LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 30.0% in the fourth quarter. LPL Financial LLC now owns 260,833 shares of the company’s stock worth $53,867,000 after buying an additional 60,187 shares during the period.

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.