iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Sees Significant Drop in Short Interest

iShares Blockchain and Tech ETF (NYSEARCA:IBLC) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 470 shares, a drop of 90.9% from the May 14th total of 5,178 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 12,494 shares, the short-interest ratio is presently 0.0 days.

iShares Blockchain and Tech ETF Stock Performance

Shares of NYSEARCA IBLC traded down $1.60 during midday trading on Tuesday, hitting $49.68. The company’s stock had a trading volume of 28,699 shares, compared to its average volume of 24,795. iShares Blockchain and Tech ETF has a 1-year low of $32.56 and a 1-year high of $68.77. The firm’s fifty day moving average price is $47.32 and its 200-day moving average price is $44.66. The firm has a market cap of $91.91 million, a P/E ratio of 24.74 and a beta of 3.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners acquired a new position in shares of iShares Blockchain and Tech ETF in the 4th quarter valued at about $31,000. Strategic Advocates LLC acquired a new position in shares of iShares Blockchain and Tech ETF in the 3rd quarter valued at about $55,000. Advisory Services Network LLC acquired a new position in shares of iShares Blockchain and Tech ETF in the 3rd quarter valued at about $78,000. Commonwealth Equity Services LLC acquired a new position in shares of iShares Blockchain and Tech ETF in the 4th quarter valued at about $238,000. Finally, Sound Income Strategies LLC acquired a new position in shares of iShares Blockchain and Tech ETF in the 4th quarter valued at 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.