First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Shares Down 1.3% – Time to Sell?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT)’s stock price dropped 1.3% during mid-day trading on Thursday . The company traded as low as $208.70 and last traded at $211.29. Approximately 26,325 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 158,089 shares. The stock had previously closed at $214.10.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 21.72 and a beta of 0.66. The business has a 50 day moving average price of $201.78 and a 200-day moving average price of $205.46.

Hedge Funds Weigh In On First Trust NYSE Arca Biotechnology Index Fund

A number of institutional investors and hedge funds have recently made changes to their positions in FBT. High Point Wealth Management LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at about $26,000. Russell Investments Group Ltd. increased its position 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. Rossby Financial LCC increased its position in First Trust NYSE Arca Biotechnology Index Fund by 160.0% in the 3rd quarter. Rossby Financial LCC now owns 169 shares of the company’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. AG Campbell Advisory LLC bought a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 4th quarter valued at about $31,000. Finally, Capital Investment Advisory Services LLC increased its position 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 valued at $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.