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) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 6,463 shares, a decrease 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 presently 0.0 days. Currently, 0.1% of the shares of the company are sold short.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

Shares of FBT traded down $0.65 during trading hours on Friday, reaching $255.42. 41,294 shares of the company traded hands, compared to its average volume of 121,386. The stock’s fifty day moving average is $243.94 and its 200 day moving average is $219.87. First Trust NYSE Arca Biotechnology Index Fund has a 1-year low of $171.00 and a 1-year high of $260.46. The stock has a market cap of $2.82 billion, a P/E ratio of 21.72 and a beta of 0.66.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBT. High Point Wealth Management LLC acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund during the fourth quarter valued at approximately $26,000. AG Campbell Advisory LLC bought a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. boosted its stake in 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 buying an additional 158 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the first quarter valued at $34,000. Finally, Parallel Advisors LLC grew its position in First Trust NYSE Arca Biotechnology Index Fund by 1,300.0% in the first quarter. Parallel Advisors LLC now owns 182 shares of the company’s stock valued at $37,000 after acquiring an additional 169 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.