iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Stock Price Down 2% – Here’s Why

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

iShares Blockchain and Tech ETF Trading Down 1.2 %

The company has a market capitalization of $30.95 million, a price-to-earnings ratio of 16.69 and a beta of 3.21. The stock’s fifty day simple moving average is $32.41 and its 200-day simple moving average is $34.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WCG Wealth Advisors LLC increased its holdings in iShares Blockchain and Tech ETF by 2.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 15,469 shares of the company’s stock worth $529,000 after purchasing an additional 346 shares during the period. Allianz SE acquired a new position in shares of iShares Blockchain and Tech ETF during the fourth quarter worth about $56,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of iShares Blockchain and Tech ETF during the fourth quarter worth about $479,000.

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.