First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Strong Trading Volume – Still a Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw unusually-strong trading volume on Tuesday . Approximately 152,040 shares changed hands during mid-day trading, an increase of 462% from the previous session’s volume of 27,036 shares.The stock last traded at $169.56 and had previously closed at $169.20.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The firm has a market cap of $1.28 billion, a PE ratio of 17.20 and a beta of 0.86. The stock’s 50 day simple moving average is $170.11 and its 200 day simple moving average is $160.25.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at about $130,000. International Assets Investment Management LLC acquired a new position in First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at about $166,000. TD Capital Management LLC increased its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 6.4% during the second quarter. TD Capital Management LLC now owns 1,141 shares of the company’s stock worth $176,000 after buying an additional 69 shares during the period. Finally, Dominguez Wealth Management Solutions Inc. acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter worth about $201,000.

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.