XON - very interesting conversation | Biotech Message Board Posts

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Msg  27130 of 46307  at  4/17/2019 12:48:40 AM  by


 In response to msg 27129 by  BelieverTim
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Re: XON - very interesting conversation

 Tim- FBT currently owns 11+ mill shares of XON and will likely be selling those shares on the close on Thursday. FBT truly rebalances to an equal weighting their 30 holdings every quarter. Because it is such a large ETF (3.076 bill) with only 30 holdings each name gets roughly rebalanced to a holding size of $102 mill. The XON situation is interesting because it's market cap has fallen well below the minimum of $900 mill due to its extreme underperformance.
However, anyone with any of the 30 holdings should be prepared for large prints on the close on Thursday for holdings which have under or out performed during the last qtr. Here are the current FBT holdings and weightings.
First Trust NYSE Arca Biotechnology Index Fund (FBT)
Holdings of the Fund as of 4/15/2019
View Index Holdings

Total Number of Holdings: 30

Security NameIdentifierClassificationWeighting Descending sort
Ionis Pharmaceuticals, Inc.IONSHealth Care4.73%
Ultragenyx Pharmaceutical Inc.RAREHealth Care4.43%
Bio-Techne CorporationTECHHealth Care4.02%
ACADIA Pharmaceuticals Inc.ACADHealth Care3.96%
Charles River Laboratories International, Inc.CRLHealth Care3.93%
bluebird bio, Inc.BLUEHealth Care3.86%
Alexion Pharmaceuticals, Inc.ALXNHealth Care3.84%
IQVIA Holdings Inc.IQVHealth Care3.63%
Celgene CorporationCELGHealth Care3.60%
QIAGEN N.V.QGENHealth Care3.58%
Illumina, Inc.ILMNHealth Care3.51%
Agios Pharmaceuticals, Inc.AGIOHealth Care3.50%
Alnylam Pharmaceuticals, Inc.ALNYHealth Care3.48%
Seattle Genetics, Inc.SGENHealth Care3.45%
Exelixis, Inc.EXELHealth Care3.32%
Grifols, S.A. (ADR)GRFSHealth Care3.29%
Incyte CorporationINCYHealth Care3.26%
Alkermes PlcALKSHealth Care3.20%
Gilead Sciences, Inc.GILDHealth Care3.09%
BioMarin Pharmaceutical Inc.BMRNHealth Care3.08%
Amgen Inc.AMGNHealth Care3.06%
Vertex Pharmaceuticals IncorporatedVRTXHealth Care3.06%
United Therapeutics CorporationUTHRHealth Care3.05%
Neurocrine Biosciences, Inc.NBIXHealth Care3.03%
FibroGen, Inc.FGENHealth Care3.02%
Regeneron Pharmaceuticals, Inc.REGNHealth Care2.93%
Intercept Pharmaceuticals, Inc.ICPTHealth Care2.66%
Nektar TherapeuticsNKTRHealth Care2.37%
Biogen Inc.BIIBHealth Care2.25%
Intrexon CorporationXONHealth Care1.76%
Holdings are subject to change.

So for example IONS which has a current weighting of 4.73% will be reduced to 3.33%. The current weight of 4.73% represents $145.5 mill which will be reduced to 3.33% or $102.4 mill or a sale of $43.1 mill on the close for just that 1 name.
Anyone can figure whether their names will be bought or sold on Thursday's close and how significant the volume will be relative to daily trade volume. 

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Msg # Subject Author Recs Date Posted
27138 Re: XON - very interesting conversation tm3912 1 4/17/2019 10:40:58 AM
27140 Re: XON - very interesting conversation rational1_2000 0 4/17/2019 11:04:52 AM

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