Zacks Investment ResearchT3·1mo ago
FBT First Trust NYSE Arca Biotechnology Index Fund
ETF 272.46 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
FBT
$272.46
—
Key stats
$272.46
- 52-Week Range
- $186.20 – $275.23
- YTD
- +31.16%
- IV Rank (30D)
- 100.0
- Straddle Price
- $16.00
- P/C Vol Ratio
- 1.07
- Open
- $271.42
- Day Range
- $270.90 – $274.25
- Volume
- 58,526
- Prev Close
- $271.77
About
First Trust NYSE Arca Biotechnology Index Fund (FBT) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2006-06-19
- Has Options
- Yes
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.55% prospectus, filed Apr 30, 2026
- Assets
- $2.9B issuer-reported, Oct 19, 2026
- Trailing yield
- — paid quarterly
- Average daily volume
- $21M 30 sessions
- Holdings
- 31 top 10 are 35.0%
- Listed
- Jun 19, 2006 NYSE Arca
- Last fee change
- +1 bp filed Apr 30, 2026
- Net asset value
- $265.43 issuer, Oct 19, 2026
- Tracking difference
- -0.68 pts vs index, after fees, FY 2025
Cost50
Liquidity78
Scale91
Diversification60
Moves with. US large-cap stocks (16% of its variance, beta 0.62); Small caps over large (11% of its variance, beta 0.54); Long Treasuries (4% of its variance, beta 0.31); Developed markets ex-US over US (4% of its variance, beta 0.36). These factors explain 36% of its daily moves over the last year.
Stated objective. The First Trust NYSE Arca Biotechnology Index Fund (the Fund ) seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the NYSE Arca Biotechnology Index (the Index ). (from the fund's prospectus)
All 31 holdingsFlow historySimilar fundsOverlap toolAll Biotech & Health Innovation ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- −$50M latest reported month
- Latest 3 months
- +$2.5M +0.1% of assets
- Latest 12 months
- +$1.1B +39.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$50M |
| May 2026 | +$63M |
| Apr 2026 | −$10M |
| Mar 2026 | −$19M |
| Feb 2026 | +$21M |
| Jan 2026 | +$1.1B |
| Dec 2025 | +$32M |
| Nov 2025 | +$50M |
| Oct 2025 | −$9.4M |
| Sep 2025 | $0 |
| Aug 2025 | −$17M |
| Jul 2025 | −$8.2M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| PBEInvesco Biotechnology & Genome ETF | 48% | 0.58% | $431M | +37.4% | compare |
| IBBiShares Biotechnology ETF | 44% | 0.44% | $10.9B | +36.5% | compare |
| BBHVanEck Biotech ETF | 41% | 0.35% | $504M | +40.8% | compare |
| FTXHFirst Trust Nasdaq Pharmaceuticals ETF | 35% | 0.60% | $1.1B | +46.4% | compare |
| IBBQInvesco Nasdaq Biotechnology ETF | 30% | 0.19% | $67M | +36.0% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 19, 2026issuer data- Holdings vs fair value
- +8.4% 37% under, 30% over · 100% covered
- Price / earnings
- 48.5 25% loss-making · 90% covered
- Price / book · sales
- 5.2 · 5.7 revenue growth +12.9%
- Above 200-day average
- 77% 58% above 50-day · by weight
- Short interest
- 8.6% of float, weighted · 5.3 days to cover
- Insider buying
- 0% of weight had net insider buying, 90 days; 67% net selling
- 13F holders
- +2.1% change in shares held by institutions, latest quarter
- Reporting earnings
- 20.4% of weight in 7 days; 89.7% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.45%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Oct 15, 2026 → Oct 16, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | TARSTarsus Pharmaceuticals, Inc. | — | 3.12% | — |
| Exit | SRPTSarepta Therapeutics, Inc. | 2.90% | — | — |
| Decrease | NTRANatera, Inc. | 4.64% | 3.30% | −24.3% |
| Decrease | HALOHalozyme Therapeutics, Inc. | 4.93% | 3.71% | −22.5% |
| Decrease | ILMNIllumina, Inc. | 4.36% | 3.17% | −23.2% |
| Increase | ALKSAlkermes Plc | 2.39% | 3.41% | +43.7% |
| Increase | AXSMAxsome Therapeutics, Inc. | 2.14% | 3.13% | +56.0% |
| Increase | ALNYAlnylam Pharmaceuticals, Inc. | 2.42% | 3.35% | +44.3% |
| Increase | NBIXNeurocrine Biosciences, Inc. | 2.39% | 3.20% | +39.7% |
| Increase | VCYTVeracyte, Inc. | 2.41% | 3.20% | +41.5% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.6%. Full holdings and history
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 4 active of 26 with agreements; top 3 did 97%
- Created · redeemed
- $109M · $136M over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.33% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.68 pts after fees; +0.00 before; daily s.d. 0.04
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
31
AUM
$3.0B
Provider
First Trust
Inception
2006-06-19
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.55%
Dividend Yield
—
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2024-12-13 | 2024-12-31 | $1.1726 | CD |
Asset Allocation
Top Holdings
top 31 of 31 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| HALO | Halozyme Therapeutics, Inc. | 3.67% | Equity (US) | US |
| ALKS | Alkermes Plc | 3.54% | Equity (Foreign) | IE |
| ADMA | ADMA Biologics, Inc. | 3.53% | Equity (US) | US |
| ONC | BeOne Medicines Ltd. (ADR) | 3.53% | Equity (ADR) | — |
| REGN | Regeneron Pharmaceuticals, Inc. | 3.52% | Equity (US) | US |
| BIIB | Biogen Inc. | 3.51% | Equity (US) | US |
| EXEL | Exelixis, Inc. | 3.50% | Equity (US) | US |
| AMGN | Amgen Inc. | 3.45% | Equity (US) | US |
| ARGX | argenx SE (ADR) | 3.43% | Equity (ADR) | — |
| GMAB | Genmab A/S (ADR) | 3.43% | Equity (Foreign) | DK |
| GILD | Gilead Sciences, Inc. | 3.37% | Equity (US) | US |
| INCY | Incyte Corporation | 3.37% | Equity (US) | US |
| BMRN | BioMarin Pharmaceutical Inc. | 3.36% | Equity (US) | US |
| RGEN | Repligen Corporation | 3.35% | Equity (US) | US |
| NEO | NeoGenomics, Inc. | 3.31% | Equity (US) | US |
| NTRA | Natera, Inc. | 3.30% | Equity (US) | US |
| UTHR | United Therapeutics Corporation | 3.29% | Equity (US) | US |
| VRTX | Vertex Pharmaceuticals Incorporated | 3.29% | Equity (US) | US |
| TECH | Bio-Techne Corporation | 3.26% | Equity (US) | US |
| NBIX | Neurocrine Biosciences, Inc. | 3.25% | Equity (US) | US |
| ALNY | Alnylam Pharmaceuticals, Inc. | 3.23% | Equity (US) | US |
| MDGL | Madrigal Pharmaceuticals, Inc. | 3.23% | Equity (US) | US |
| VCYT | Veracyte, Inc. | 3.23% | Equity (US) | US |
| TGTX | TG Therapeutics, Inc. | 3.21% | Equity (US) | US |
| TARS | Tarsus Pharmaceuticals, Inc. | 3.16% | Equity (US) | US |
| ILMN | Illumina, Inc. | 3.14% | Equity (US) | US |
| CORT | Corcept Therapeutics Inc. | 3.13% | Equity (US) | US |
| BRKR | Bruker Corporation | 3.10% | Equity (US) | US |
| AXSM | Axsome Therapeutics, Inc. | 3.09% | Equity (US) | US |
| BNTX | BioNTech SE (ADR) | 3.06% | Equity (Foreign) | DE |
| — | US Dollar | 0.15% | Cash/Money Market | — |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 4.28% | -8.79% | 6.49% | -7.04% | 8.42% | 2.51% | 0.98% |
| Feb | -5.19% | -3.51% | -6.22% | 0.27% | -1.81% | -2.70% | -3.19% |
| Mar | -5.62% | 1.89% | -0.30% | -0.50% | -0.78% | -2.23% | -1.26% |
| Apr | 0.75% | -11.49% | -1.13% | -6.55% | -0.93% | 1.17% | -3.03% |
| May | -0.70% | -2.55% | -1.25% | 2.05% | 0.22% | 8.36% | 1.02% |
| Jun | 6.40% | 1.56% | -0.67% | 1.93% | -0.34% | 12.43% | 3.55% |
| Jul | -3.48% | 0.83% | 2.22% | 9.07% | 1.33% | -1.79% | 1.36% |
| Aug | 2.86% | -1.55% | 0.36% | 1.11% | 4.64% | 8.82% | 2.71% |
| Sep | -5.05% | -5.28% | -6.14% | 2.61% | 2.22% | 1.65% | -1.67% |
| Oct | 0.19% | 6.48% | -8.35% | -1.02% | 4.09% | 2.51%* | 0.65% |
| Nov | -7.26% | 7.04% | 4.91% | 0.39% | 11.54% | -- | 3.32% |
| Dec | 4.80% | -1.60% | 10.17% | -4.57% | -1.65% | -- | 1.43% |
| Total | -8.82% | -17.17% | -1.51% | -3.26% | 29.35% | 33.85% | 5.41% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $267.49
SMA 50: $267.18
SMA 200: $230.87
Current: $272.46
EMA 12: $267.17
EMA 26: $266.75
MACD: 0.4196 | Signal: 0.5066
BEARISH
ADX (14): 13.94
RANGE
+DI: 30.36
−DI: 21.37
Momentum Oscillators
RSI (14): 56.90
NEUTRAL
Stoch %K: 77.01
Stoch %D: 62.92
Williams %R: -9.72
Volume & Volatility
BB Upper: $276.43
BB Lower: $258.55
NEUTRAL
OBV: -5,245,065
Vol SMA 20: 102,490
Vol ROC: -8.48%
ATR: $5.00
True Range: $3.35
HV 20: 23.0%
HV 30: 21.8%
HV 60: 22.5%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is my analysis of FBT, a biotech ETF:
Executive Summary
Overall assessment: NEUTRAL with confidence level 6/10.
Key drivers: Trend direction, momentum signals, and market context.
Primary risks: Volatility regime, beta interpretation, and options activity.
2-3 sentence investment thesis: FBT exhibits a neutral trend with mixed technical indicators. The stock's low volatility is an attractive feature, but the recent increase in IV rank suggests heightened risk. Earnings data availability would provide valuable insights into the ETF's performance.
Recent news sentiment impact: Positive news headlines have contributed to the stock's upward movement, with investors showing interest in the biotech sector.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Neutral trend
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Upper Bollinger Band: $278.93
- Middle line: $266.32
- Lower Bollinger Band: $253.71
Momentum Signals:
- RSI interpretation: 60.82 (neutral)
- MACD signal: Bullish momentum (5.46 / Signal: -0.24 / Histogram: 5.70)
- Bollinger Bands position: Neutral
Volume Analysis:
- Volume SMA 20: 44619.08
- On-Balance Volume (OBV): -4044193.80 (negative OBV suggests selling pressure)
News & Sentiment Analysis
Recent Headlines Summary:
The recent news headlines are mostly positive, with investors showing interest in the biotech sector and FBT's performance.
Sentiment Assessment: POSITIVE
Catalyst Identification: None notable
Market Narrative: The market narrative is aligned with the technical signals, indicating a neutral trend.
Risk & Volatility Assessment
Risk Interpretation:
- Beta: 0.80 (vs SPY) - Low volatility
- Alpha: 0.30 - Positive alpha suggests outperformance
- Correlation: 0.47 - Moderate correlation with market
Volatility Regime:
- Historical Volatility: HV20 22.7%, HV30 23.2%, HV60 21.1% (relatively low)
- IV Premium vs HV30: 9.1% (positive = implied richer than realized)
Options Market Signals:
- IV Rank: 9.3% (Low) - shows if volatility is historically high/low
- Current IV: 25.3%
- Expected Move: $16.55 (42 DTE), 7-DTE: $9.20
Downside Protection:
- Support levels: Bollinger Bands, SMA 50, and previous lows
- Risk management considerations: Stop-loss levels at key support levels
Market Context & Positioning
Sector Performance:
- Biotech sector performance: Positive
Institutional Activity:
- Volume patterns suggesting institutional interest: None notable
Correlation Analysis:
- R-squared interpretation: FBT moves relatively independently of the market (0.47 correlation)
Relative Valuation:
- Relative position within trading range: Neutral
Key Levels & Action Items
Critical Price Levels:
- Support levels: Bollinger Bands, SMA 50, and previous lows
- Resistance levels: Upper Bollinger Band ($278.93) and previous highs
Breakout/Breakdown Levels:
- Technical levels that could trigger significant moves: None notable
Time-Sensitive Catalysts:
- Earnings dates: None available
Risk Management:
- Stop-loss levels at key support levels
Generated
News
All FBT news →
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Showing 1–10 of 50
Page 1 of 5
FBT Options Activity & IV Rank
FBT IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 25.1%
7-DTE IV: —
Expected Move: $16.00
7-DTE Move: $16.00
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 28
Put Volume: 30
P/C Volume: 1.071
NEUTRAL
Call OI: 216
Put OI: 58
P/C OI: 0.269
Total OI: 274
ATM Options Pricing
ATM Call: $9.75
ATM Put: $6.25
Call %: 3.6%
Put %: 2.3%
Chain Summary
Chain Volume: 344
Chain OI: 560
Last Updated: 10/21/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 38th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
38%
vs own history
GEX tilt
+1.00
OI-weighted, today
Vanna tilt
+0.74
δ-sensitivity to IV
Charm tilt
+0.73
δ-decay vs time
Vanna tilt +0.74: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +0.73: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 25.1% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)100.0HighOct 21
Straddle Price (30 DTE)$16.00Oct 21
Beta Analysis
Risk Metrics
Beta: 0.7805
Alpha: 27.11%
Correlation: 0.4518
R-Squared: 20.4%
Stock Volatility: 21.9%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
FBT Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
4 filers$6.05M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $3.59M | 59.43% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $1.09M | 18.03% | 2026-06-30 |
| 3 | Belvedere Trading LLC | $718.88K | 11.89% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $644.51K | 10.66% | 2026-06-30 |
1 filers$1.44M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Belvedere Trading LLC | $1.44M | 100.00% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
42.93K
SI % of Float
0.39%
Days to Cover
1.00
Short Vol Ratio
85.6%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
FBT Constituent Performance
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FBT Constituents (30 of 30)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| HALO | Halozyme Therapeutics, Inc. | 3.67% | $124.83 | +0.37% | +6.86% | +11.02% |
| ALKS | Alkermes Plc | 3.54% | $43.48 | -1.43% | +11.26% | +3.20% |
| ONC | BeOne Medicines Ltd. (ADR) | 3.53% | $386.46 | +0.51% | +9.95% | +5.88% |
| ADMA | ADMA Biologics, Inc. | 3.53% | $11.01 | -1.96% | +6.48% | +13.51% |
| REGN | Regeneron Pharmaceuticals, Inc. | 3.52% | $805.67 | -0.22% | +3.51% | +0.48% |
| BIIB | Biogen Inc. | 3.51% | $240.98 | -0.87% | +3.50% | +5.91% |
| EXEL | Exelixis, Inc. | 3.50% | $64.58 | +0.30% | +5.89% | +13.84% |
| AMGN | Amgen Inc. | 3.45% | $438.34 | -0.14% | +2.87% | +7.94% |
| ARGX | argenx SE (ADR) | 3.43% | $890.05 | +2.34% | +8.77% | -5.90% |
| GMAB | Genmab A/S (ADR) | 3.43% | $39.57 | +1.28% | +7.26% | +13.87% |
| GILD | Gilead Sciences, Inc. | 3.37% | $153.57 | -1.88% | +0.02% | +1.45% |
| INCY | Incyte Corporation | 3.37% | $113.44 | -2.72% | +1.68% | -8.99% |
| BMRN | BioMarin Pharmaceutical Inc. | 3.36% | $55.21 | -2.18% | +0.13% | -11.25% |
| RGEN | Repligen Corporation | 3.35% | $180.01 | +0.63% | +1.02% | -2.45% |
| NEO | NeoGenomics, Inc. | 3.31% | $17.04 | +2.53% | +0.95% | -7.19% |
| NTRA | Natera, Inc. | 3.30% | $413.38 | +1.84% | +4.72% | +5.78% |
| VRTX | Vertex Pharmaceuticals Incorporated | 3.29% | $524.52 | +1.92% | +5.22% | +1.58% |
| UTHR | United Therapeutics Corporation | 3.29% | $563.49 | +1.74% | +4.34% | +15.13% |
| TECH | Bio-Techne Corporation | 3.26% | $72.64 | +0.08% | +0.19% | +0.17% |
| NBIX | Neurocrine Biosciences, Inc. | 3.25% | $141.31 | -0.49% | +3.97% | +1.30% |
| VCYT | Veracyte, Inc. | 3.23% | $46.22 | +3.19% | +6.23% | +5.48% |
| MDGL | Madrigal Pharmaceuticals, Inc. | 3.23% | $457.96 | -2.05% | -0.45% | -10.73% |
| ALNY | Alnylam Pharmaceuticals, Inc. | 3.23% | $225.1 | -2.43% | +0.28% | -8.69% |
| TGTX | TG Therapeutics, Inc. | 3.21% | $53.2 | -2.44% | -2.15% | -5.00% |
| TARS | Tarsus Pharmaceuticals, Inc. | 3.16% | $70.5 | -0.75% | -2.48% | -5.10% |
| ILMN | Illumina, Inc. | 3.14% | $282.86 | +5.57% | +4.08% | +10.76% |
| CORT | Corcept Therapeutics Inc. | 3.13% | $116.28 | -0.15% | +0.04% | +2.96% |
| BRKR | Bruker Corporation | 3.10% | $59.1 | +5.68% | +6.30% | -0.95% |
| AXSM | Axsome Therapeutics, Inc. | 3.09% | $156.31 | -2.05% | -3.64% | -19.20% |
| BNTX | BioNTech SE (ADR) | 3.06% | $91.29 | +0.13% | +2.97% | -7.28% |