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

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares saw an uptick in trading volume on Monday . 42,532 shares traded hands during trading, an increase of 59% from the previous session’s volume of 26,808 shares.The stock last traded at $179.20 and had previously closed at $178.69.

First Trust NYSE Arca Biotechnology Index Fund Stock Down 1.7 %

The company has a market capitalization of $1.32 billion, a PE ratio of 17.20 and a beta of 0.86. The business has a 50 day simple moving average of $171.10 and a 200 day simple moving average of $162.39.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Several large investors have recently bought and sold shares of FBT. International Assets Investment Management LLC grew its stake in First Trust NYSE Arca Biotechnology Index Fund by 17,093.0% during the 3rd quarter. International Assets Investment Management LLC now owns 185,512 shares of the company’s stock valued at $31,895,000 after purchasing an additional 184,433 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in First Trust NYSE Arca Biotechnology Index Fund by 2.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 121,974 shares of the company’s stock valued at $18,783,000 after buying an additional 2,629 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in First Trust NYSE Arca Biotechnology Index Fund by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 50,431 shares of the company’s stock worth $7,766,000 after buying an additional 1,828 shares during the period. Csenge Advisory Group raised its position in First Trust NYSE Arca Biotechnology Index Fund by 142.6% during the 2nd quarter. Csenge Advisory Group now owns 45,427 shares of the company’s stock worth $6,995,000 after buying an additional 26,703 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in First Trust NYSE Arca Biotechnology Index Fund by 5.5% during the 2nd quarter. Truist Financial Corp now owns 44,570 shares of the company’s stock valued at $6,863,000 after acquiring an additional 2,320 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.