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

iShares Blockchain and Tech ETF (NYSEARCA:IBLC)’s share price were down 1.1% during trading on Friday . The stock traded as low as $51.99 and last traded at $52.06. Approximately 8,468 shares changed 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 company has a 50 day moving average price of $44.19 and a 200 day moving average price of $44.74. The firm has a market cap of $96.31 million, a price-to-earnings ratio of 24.74 and a beta of 3.13.

Hedge Funds Weigh In On iShares Blockchain and Tech ETF

Several large investors have recently modified their holdings of the business. Arax Advisory Partners acquired a new position in iShares Blockchain and Tech ETF during the 4th quarter worth about $31,000. Strategic Advocates LLC acquired a new position in iShares Blockchain and Tech ETF during the 3rd quarter worth about $55,000. Advisory Services Network LLC acquired a new position in iShares Blockchain and Tech ETF during the 3rd quarter worth about $78,000. Commonwealth Equity Services LLC acquired a new position in iShares Blockchain and Tech ETF during the 4th quarter worth about $238,000. Finally, Sound Income Strategies LLC acquired a new position in iShares Blockchain and Tech ETF during the 4th quarter worth about $258,000.

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.