Global X Blockchain ETF (NASDAQ:BKCH) Stock Price Down 3.8% – What’s Next?

Global X Blockchain ETF (NASDAQ:BKCH) was down 3.8% during trading on Thursday. The stock traded as low as $53.94 and last traded at $54.77. 28,008 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 93,921 shares. The stock had previously closed at $56.91.

Global X Blockchain ETF Stock Performance

The business’s 50-day moving average price is $67.05 and its 200 day moving average price is $70.57. The company has a market cap of $180.17 million, a P/E ratio of 14.28 and a beta of 3.58.

Hedge Funds Weigh In On Global X Blockchain ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Global X Blockchain ETF by 130.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 16,865 shares of the company’s stock worth $1,262,000 after buying an additional 9,537 shares during the period. GK Wealth Management LLC acquired a new stake in shares of Global X Blockchain ETF during the second quarter worth $214,000. Bank of America Corp DE boosted its position in shares of Global X Blockchain ETF by 63.3% in the first quarter. Bank of America Corp DE now owns 255,808 shares of the company’s stock valued at $14,284,000 after acquiring an additional 99,163 shares during the period. Private Advisor Group LLC boosted its position in shares of Global X Blockchain ETF by 34.0% in the first quarter. Private Advisor Group LLC now owns 148,237 shares of the company’s stock valued at $8,278,000 after acquiring an additional 37,628 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Global X Blockchain ETF by 17.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,007 shares of the company’s stock valued at $256,000 after acquiring an additional 585 shares in the last quarter.

About Global X Blockchain ETF

The Global X Blockchain ETF (BKCH) is an exchange-traded fund that is based on the Solactive Blockchain index, a market-cap-weighted index of global companies involved in blockchain technologies. BKCH was launched on Jul 12, 2021 and is managed by Global X.