iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Stock Price Up 9.6% – Should You Buy?

Shares of iShares Blockchain and Tech ETF (NYSEARCA:IBLC) traded up 9.6% on Tuesday . The company traded as high as $25.65 and last traded at $25.61. 7,737 shares traded hands during trading, a decline of 48% from the average session volume of 14,984 shares. The stock had previously closed at $23.36.

iShares Blockchain and Tech ETF Price Performance

The stock has a 50 day simple moving average of $27.54 and a 200-day simple moving average of $33.70. The firm has a market cap of $28.17 million, a PE ratio of 12.45 and a beta of 3.20.

Hedge Funds Weigh In On iShares Blockchain and Tech ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. WCG Wealth Advisors LLC lifted its position in iShares Blockchain and Tech ETF by 2.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 15,469 shares of the company’s stock valued at $529,000 after acquiring an additional 346 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of iShares Blockchain and Tech ETF in the fourth quarter worth $479,000. Finally, Allianz SE bought a new position in shares of iShares Blockchain and Tech ETF during the fourth quarter valued at $56,000.

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.