First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Here’s Why

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw unusually-strong trading volume on Wednesday . Approximately 91,466 shares traded hands during trading, an increase of 128% from the previous session’s volume of 40,045 shares.The stock last traded at $216.4850 and had previously closed at $212.13.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 21.72 and a beta of 0.65. The company has a 50-day simple moving average of $210.86 and a two-hundred day simple moving average of $188.99.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBT. Wealth Enhancement Advisory Services LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 2.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,773 shares of the company’s stock worth $1,769,000 after purchasing an additional 212 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 28,270 shares of the company’s stock worth $4,561,000 after purchasing an additional 382 shares during the period. Truist Financial Corp boosted its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 12.8% during the 2nd quarter. Truist Financial Corp now owns 45,234 shares of the company’s stock worth $7,298,000 after acquiring an additional 5,136 shares during the period. Berger Financial Group Inc raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 1.8% in the 2nd quarter. Berger Financial Group Inc now owns 113,019 shares of the company’s stock valued at $18,233,000 after acquiring an additional 2,045 shares during the period. Finally, RMG Wealth Management LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 2nd quarter valued at $80,000.

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.