First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Unusually-High Trading Volume – Should You Buy?

Shares of First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw unusually-strong trading volume on Thursday . Approximately 79,809 shares were traded during trading, an increase of 170% from the previous session’s volume of 29,609 shares.The stock last traded at $172.70 and had previously closed at $173.55.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.20 and a beta of 0.86. The firm has a 50 day simple moving average of $170.45 and a two-hundred day simple moving average of $168.30.

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

A number of institutional investors and hedge funds have recently made changes to their positions in FBT. Dominguez Wealth Management Solutions Inc. purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter valued at approximately $201,000. Blue Trust Inc. lifted its position in First Trust NYSE Arca Biotechnology Index Fund by 3,248.6% during the third quarter. Blue Trust Inc. now owns 1,172 shares of the company’s stock valued at $202,000 after purchasing an additional 1,137 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the third quarter valued at $203,000. Synovus Financial Corp purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the third quarter worth approximately $203,000. Finally, Wharton Business Group LLC bought a new stake in shares of First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter valued at $206,000.

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.