Importantly, no other biotech ETF has a weight of more than 1.14% to InterMune. The ETF that has that weight is XBI, hence why it is the second-best biotech ETF behind FBT Tuesday.
InterMune’s rise has stoked speculation the company could be a takeover candidate with a potential acquirer perhaps paying above $60 a share, a rich premium considering the stock is hovering around $35 at this writing. That news would validate the previously highlighted theory that FBT is chock full of takeover candidates. [The Right ETF for Biotech M&A]
First Trust NYSE Arca Biotechnology Index Fund
