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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 17,467 shares, a drop of 65.6% from the February 26th total of 50,788 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 74,513 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 74,513 shares, the short-interest ratio is currently 0.2 days. Approximately 1.7% of the shares of the company are short sold.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

Shares of FBT opened at $191.75 on Wednesday. The firm has a fifty day moving average of $207.03 and a 200-day moving average of $200.67. The company has a market cap of $201.34 million, 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 $141.38 and a 1 year high of $224.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. High Point Wealth Management LLC bought a new position in First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter worth about $26,000. Russell Investments Group Ltd. raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 7,900.0% during the third quarter. Russell Investments Group Ltd. now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 158 shares during the last quarter. Rossby Financial LCC boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 160.0% during the third quarter. Rossby Financial LCC now owns 169 shares of the company’s stock worth $31,000 after buying an additional 104 shares during the period. AG Campbell Advisory LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter worth approximately $31,000. Finally, Capital Investment Advisory Services LLC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 63.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 181 shares of the company’s stock worth $32,000 after buying an additional 70 shares in the last quarter.

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.