iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Shares Down 1.1% – Here’s Why

iShares Blockchain and Tech ETF (NYSEARCA:IBLC)’s stock price dropped 1.1% during mid-day trading on Friday . The stock traded as low as $51.99 and last traded at $52.06. Approximately 8,468 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 25,659 shares. The stock had previously closed at $52.65.

iShares Blockchain and Tech ETF Stock Performance

The firm has a fifty day simple moving average of $44.19 and a 200 day simple moving average of $44.74. The company has a market capitalization of $96.31 million, a PE ratio of 24.74 and a beta of 3.13.

Institutional Trading of iShares Blockchain and Tech ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. James Investment Research Inc. purchased a new stake in iShares Blockchain and Tech ETF in the first quarter worth about $423,000. Osaic Holdings Inc. increased its position in iShares Blockchain and Tech ETF by 1.1% during the 4th quarter. Osaic Holdings Inc. now owns 32,880 shares of the company’s stock valued at $1,345,000 after purchasing an additional 352 shares during the period. MML Investors Services LLC raised its holdings in shares of iShares Blockchain and Tech ETF by 75.0% in the 4th quarter. MML Investors Services LLC now owns 9,023 shares of the company’s stock valued at $369,000 after purchasing an additional 3,867 shares in the last quarter. Arax Advisory Partners bought a new stake in shares of iShares Blockchain and Tech ETF in the 4th quarter valued at about $31,000. Finally, Jane Street Group LLC lifted its position in shares of iShares Blockchain and Tech ETF by 2,193.7% in the 4th quarter. Jane Street Group LLC now owns 92,300 shares of the company’s stock worth $3,776,000 after purchasing an additional 88,276 shares during the period.

iShares Blockchain and Tech ETF Company Profile

The iShares Blockchain and Tech ETF (IBLC) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index of global companies that are involved in the development, innovation, and utilisation of blockchain and crypto technologies. Constituents are selected based on their total revenue related to the target theme, and are weighted based on free-float market cap. IBLC was launched on Apr 25, 2022 and is managed by BlackRock.