The $2.79 billion ETF, which is up 14% this year, is no stranger to benefiting from biotech mergers and acquisitions news. FBT surged in December when Dow component Merck said it would buy Cubist Pharmaceuticals (NasdaqGS: CBST) for $9.5 billion.
The ETF held an almost 6% weight to InterMune (NasdaqGS: ITMN), making the stock the ETF’s largest holding, in late August when Swiss pharmaceuticals giant Roche announced it would acquire InterMune for $8.3 billion in cash. [InterMune Deal Could Boost These Biotech ETFs]
Investors have added $402.3 million in new assets to FBT this year, the third-best total among the five oldest biotech ETFs.
First Trust NYSE Arca Biotechnology Index Fund
