First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw an uptick in trading volume on Wednesday . 62,953 shares were traded during trading, an increase of 200% from the previous session’s volume of 21,019 shares.The stock last traded at $208.5550 and had previously closed at $207.21.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The stock’s fifty day simple moving average is $196.86 and its two-hundred day simple moving average is $178.10. The stock has a market capitalization of $1.27 billion, a P/E ratio of 21.72 and a beta of 0.65.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meridian Wealth Management LLC lifted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.5% during the third quarter. Meridian Wealth Management LLC now owns 3,552 shares of the company’s stock worth $637,000 after acquiring an additional 54 shares in the last quarter. Bedell Frazier Investment Counselling LLC grew its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 1.8% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 3,200 shares of the company’s stock valued at $574,000 after purchasing an additional 57 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 3.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,621 shares of the company’s stock valued at $262,000 after purchasing an additional 60 shares during the period. First Trust Advisors LP lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 0.8% during the 2nd quarter. First Trust Advisors LP now owns 8,393 shares of the company’s stock worth $1,355,000 after purchasing an additional 66 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in First Trust NYSE Arca Biotechnology Index Fund by 1.2% in the 2nd quarter. Harbour Investments Inc. now owns 5,767 shares of the company’s stock worth $930,000 after purchasing an additional 69 shares during the period.

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.