First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Reaches New 12-Month High – Should You Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $180.98 and last traded at $179.35, with a volume of 66514 shares traded. The stock had previously closed at $179.35.

First Trust NYSE Arca Biotechnology Index Fund Price Performance

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 17.20 and a beta of 0.86. The company has a 50-day simple moving average of $171.20 and a two-hundred day simple moving average of $169.67.

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

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in First Trust NYSE Arca Biotechnology Index Fund by 17,093.0% in the 3rd quarter. International Assets Investment Management LLC now owns 185,512 shares of the company’s stock worth $31,895,000 after purchasing an additional 184,433 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of First Trust NYSE Arca Biotechnology Index Fund during the third quarter worth approximately $4,494,000. D.A. Davidson & CO. grew its holdings in First Trust NYSE Arca Biotechnology Index Fund by 60.9% in the 3rd quarter. D.A. Davidson & CO. now owns 60,339 shares of the company’s stock worth $10,374,000 after buying an additional 22,829 shares in the last quarter. Benjamin Edwards Inc. increased its position in First Trust NYSE Arca Biotechnology Index Fund by 3,463.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 21,201 shares of the company’s stock valued at $3,645,000 after acquiring an additional 20,606 shares during the period. Finally, Assetmark Inc. raised its stake in First Trust NYSE Arca Biotechnology Index Fund by 235.8% during the 3rd quarter. Assetmark Inc. now owns 28,452 shares of the company’s stock valued at $4,892,000 after acquiring an additional 19,978 shares in the last quarter.

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.