iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Trading Down 2% – Time to Sell?

iShares Blockchain and Tech ETF (NYSEARCA:IBLC)’s stock price traded down 2% during mid-day trading on Tuesday . The stock traded as low as $28.72 and last traded at $29.00. 8,619 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 15,138 shares. The stock had previously closed at $29.58.

iShares Blockchain and Tech ETF Stock Performance

The company has a fifty day simple moving average of $32.41 and a two-hundred day simple moving average of $34.27. The firm has a market capitalization of $30.95 million, a PE ratio of 16.69 and a beta of 3.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz SE purchased a new stake in shares of iShares Blockchain and Tech ETF in the 4th quarter worth approximately $56,000. Sunbelt Securities Inc. bought a new position in iShares Blockchain and Tech ETF in the fourth quarter worth approximately $479,000. Finally, WCG Wealth Advisors LLC lifted its holdings in iShares Blockchain and Tech ETF by 2.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 15,469 shares of the company’s stock worth $529,000 after buying an additional 346 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.