First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Trading Down 0.5% – Should You Sell?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares dropped 0.5% on Friday . The stock traded as low as $166.08 and last traded at $167.18. Approximately 7,851 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 26,785 shares. The stock had previously closed at $167.98.

First Trust NYSE Arca Biotechnology Index Fund Trading Down 0.5 %

The business has a 50 day simple moving average of $171.05 and a two-hundred day simple moving average of $166.59. The company has a market cap of $1.26 billion, a PE ratio of 17.20 and a beta of 0.86.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

Institutional investors have recently modified their holdings of the company. Gateway Wealth Partners LLC lifted its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 3.8% during the 2nd quarter. Gateway Wealth Partners LLC now owns 1,656 shares of the company’s stock valued at $255,000 after acquiring an additional 61 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of First Trust NYSE Arca Biotechnology Index Fund by 6.8% in the second quarter. Moors & Cabot Inc. now owns 9,329 shares of the company’s stock worth $1,437,000 after buying an additional 595 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter worth about $130,000. Strategic Financial Concepts LLC acquired a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund in the second quarter valued at about $26,000. Finally, TAP Consulting LLC raised its holdings in shares of First Trust NYSE Arca Biotechnology Index Fund by 12.7% during the 2nd quarter. TAP Consulting LLC now owns 12,762 shares of the company’s stock valued at $1,965,000 after buying an additional 1,441 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.