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

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

Institutional Investors Weigh In On iShares Blockchain and Tech ETF

Several large investors have recently added to or reduced their stakes in the stock. Foguth Wealth Management LLC. boosted its position in shares of iShares Blockchain and Tech ETF by 20.0% during the first quarter. Foguth Wealth Management LLC. now owns 159,355 shares of the company’s stock valued at $5,823,000 after buying an additional 26,568 shares during the period. Jane Street Group LLC boosted its position in shares of iShares Blockchain and Tech ETF by 2,193.7% during the fourth quarter. Jane Street Group LLC now owns 92,300 shares of the company’s stock valued at $3,776,000 after buying an additional 88,276 shares during the period. Financial Engines Advisors L.L.C. purchased a new position in shares of iShares Blockchain and Tech ETF during the third quarter valued at approximately $2,546,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of iShares Blockchain and Tech ETF by 21.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,198 shares of the company’s stock valued at $1,685,000 after buying an additional 7,343 shares during the period. Finally, Osaic Holdings Inc. boosted its position in shares of iShares Blockchain and Tech ETF by 1.1% during the fourth quarter. Osaic Holdings Inc. now owns 32,880 shares of the company’s stock valued at $1,345,000 after buying an additional 352 shares during the period.

iShares Blockchain and Tech ETF Stock Up 6.8%

NYSEARCA IBLC traded up $3.25 during trading hours on Thursday, hitting $50.79. 61,872 shares of the company were exchanged, compared to its average volume of 24,966. The stock has a 50-day moving average price of $47.87 and a 200 day moving average price of $44.75. iShares Blockchain and Tech ETF has a 52 week low of $32.56 and a 52 week high of $68.77. The stock has a market cap of $93.96 million, a PE ratio of 24.74 and a beta of 3.16.

About iShares Blockchain and Tech ETF

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.