iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Shares Down 3.7% – Here’s What Happened

iShares Blockchain and Tech ETF (NYSEARCA:IBLC)’s stock price dropped 3.7% on Friday . The company traded as low as $35.67 and last traded at $35.81. Approximately 13,068 shares traded hands during trading, a decline of 24% from the average daily volume of 17,297 shares. The stock had previously closed at $37.19.

iShares Blockchain and Tech ETF Price Performance

The stock has a market capitalization of $25.07 million, a P/E ratio of 7.52 and a beta of 2.22. The stock’s fifty day moving average is $38.84 and its two-hundred day moving average is $33.41.

Institutional Investors Weigh In On iShares Blockchain and Tech ETF

A hedge fund recently bought a new stake in iShares Blockchain and Tech ETF stock. B. Riley Wealth Advisors Inc. bought a new stake in shares of iShares Blockchain and Tech ETF (NYSEARCA:IBLC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,691 shares of the company’s stock, valued at approximately $339,000. B. Riley Wealth Advisors Inc. owned 1.53% of iShares Blockchain and Tech ETF as of its most recent SEC filing.

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.