First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Hits New 52-Week High – Time to Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $275.23 and last traded at $274.4160, with a volume of 57653 shares trading hands. The stock had previously closed at $272.58.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The stock has a market cap of $2.90 billion, a P/E ratio of 21.72 and a beta of 0.66. The stock’s 50 day simple moving average is $263.33 and its two-hundred day simple moving average is $234.77.

Institutional Investors Weigh In On First Trust NYSE Arca Biotechnology Index Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of FBT. First Trust Advisors LP boosted its position in First Trust NYSE Arca Biotechnology Index Fund by 49,660.7% during the first quarter. First Trust Advisors LP now owns 3,515,093 shares of the company’s stock valued at $705,900,000 after purchasing an additional 3,508,029 shares during the last quarter. Royal Bank of Canada raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 29.1% during the 1st quarter. Royal Bank of Canada now owns 199,981 shares of the company’s stock worth $40,160,000 after purchasing an additional 45,112 shares in the last quarter. World Investment Advisors boosted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 275.6% in the 1st quarter. World Investment Advisors now owns 29,734 shares of the company’s stock valued at $5,971,000 after buying an additional 21,817 shares during the last quarter. Gateway Wealth Partners LLC grew its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 174.5% in the first quarter. Gateway Wealth Partners LLC now owns 19,654 shares of the company’s stock valued at $3,947,000 after buying an additional 12,495 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 5.7% in the 1st quarter. Bank of America Corp DE now owns 200,959 shares of the company’s stock valued at $40,357,000 after purchasing an additional 10,853 shares during the last quarter.

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.