iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Trading Up 0.8% – Should You Buy?

Shares of iShares Blockchain and Tech ETF (NYSEARCA:IBLC) shot up 0.8% on Wednesday . The company traded as high as $42.20 and last traded at $40.85. 14,426 shares were traded during trading, a decline of 12% from the average session volume of 16,338 shares. The stock had previously closed at $40.53.

iShares Blockchain and Tech ETF Price Performance

The firm has a 50 day moving average of $32.61 and a 200-day moving average of $31.01. The stock has a market capitalization of $28.60 million, a P/E ratio of 7.52 and a beta of 2.22.

Institutional Investors Weigh In On iShares Blockchain and Tech ETF

A number of institutional investors have recently bought and sold shares of IBLC. B. Riley Wealth Advisors Inc. bought a new position in iShares Blockchain and Tech ETF during the second quarter worth about $339,000. WCG Wealth Advisors LLC raised its holdings in shares of iShares Blockchain and Tech ETF by 3.1% in the 2nd quarter. WCG Wealth Advisors LLC now owns 15,060 shares of the company’s stock worth $478,000 after buying an additional 455 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of iShares Blockchain and Tech ETF by 996.1% during the 1st quarter. Jane Street Group LLC now owns 157,263 shares of the company’s stock worth $4,936,000 after buying an additional 142,915 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.