First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Increase in Short Interest

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 22,683 shares, an increase of 251.0% from the July 30th total of 6,463 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 32,141 shares, the short-interest ratio is currently 0.7 days.

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

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings 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. AG Campbell Advisory LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the fourth quarter valued at about $31,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the first quarter valued at approximately $34,000. Continuum Advisory LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 2nd quarter worth $35,000. Finally, Parallel Advisors LLC increased its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% during the first quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock worth $37,000 after acquiring an additional 169 shares during the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

Shares of NYSEARCA:FBT opened at $272.07 on Thursday. The business’s fifty day moving average price is $251.39 and its two-hundred day moving average price is $223.15. The stock has a market cap of $3.01 billion, a PE ratio of 21.72 and a beta of 0.66. First Trust NYSE Arca Biotechnology Index Fund has a one year low of $171.18 and a one year high of $273.14.

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.