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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 21,717 shares, an increase of 169.2% from the June 30th total of 8,067 shares. Based on an average daily trading volume, of 43,175 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dynamic Wealth Strategies LLC grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 10.8% during the 4th quarter. Dynamic Wealth Strategies LLC now owns 515 shares of the company’s stock valued at $106,000 after purchasing an additional 50 shares in the last quarter. Sequent Planning LLC lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 4.5% in the 1st quarter. Sequent Planning LLC now owns 1,150 shares of the company’s stock worth $231,000 after buying an additional 50 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in First Trust NYSE Arca Biotechnology Index Fund by 0.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 8,919 shares of the company’s stock worth $1,842,000 after buying an additional 53 shares in the last quarter. Signaturefd LLC boosted its position in First Trust NYSE Arca Biotechnology Index Fund by 30.6% in the 4th quarter. Signaturefd LLC now owns 235 shares of the company’s stock valued at $49,000 after buying an additional 55 shares during the last quarter. Finally, HF Advisory Group LLC boosted its position in First Trust NYSE Arca Biotechnology Index Fund by 5.0% in the 2nd quarter. HF Advisory Group LLC now owns 1,270 shares of the company’s stock valued at $315,000 after buying an additional 60 shares during the last quarter.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

Shares of NYSEARCA:FBT traded down $0.65 during mid-day trading on Monday, hitting $246.74. 42,202 shares of the company traded hands, compared to its average volume of 127,391. The firm has a market cap of $2.80 billion, a P/E ratio of 21.72 and a beta of 0.65. First Trust NYSE Arca Biotechnology Index Fund has a 52-week low of $161.30 and a 52-week high of $258.20. The firm’s 50 day simple moving average is $233.77 and its 200 day simple moving average is $216.27.

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.