iShares Blockchain and Tech ETF (NYSEARCA:IBLC) Short Interest Up 493.4% in June

iShares Blockchain and Tech ETF (NYSEARCA:IBLC) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 2,789 shares, an increase of 493.4% from the May 31st total of 470 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 22,100 shares, the days-to-cover ratio is presently 0.1 days.

iShares Blockchain and Tech ETF Stock Performance

Shares of IBLC traded up $0.47 during midday trading on Friday, hitting $49.01. 6,771 shares of the stock were exchanged, compared to its average volume of 24,020. iShares Blockchain and Tech ETF has a 52-week low of $33.88 and a 52-week high of $68.77. The stock has a fifty day simple moving average of $50.50 and a 200 day simple moving average of $44.98. The firm has a market cap of $90.67 million, a P/E ratio of 24.74 and a beta of 3.16.

Hedge Funds Weigh In On iShares Blockchain and Tech ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of IBLC. Foguth Wealth Management LLC. acquired a new position in iShares Blockchain and Tech ETF in the 4th quarter valued at about $5,856,000. Jane Street Group LLC boosted its stake in shares of iShares Blockchain and Tech ETF by 2,193.7% in the fourth quarter. Jane Street Group LLC now owns 92,300 shares of the company’s stock valued at $3,776,000 after purchasing an additional 88,276 shares during the period. Financial Engines Advisors L.L.C. acquired a new position in shares of iShares Blockchain and Tech ETF in the third quarter valued at approximately $2,546,000. Vise Technologies Inc. purchased a new stake in iShares Blockchain and Tech ETF during the 4th quarter worth approximately $657,000. Finally, James Investment Research Inc. acquired a new stake in iShares Blockchain and Tech ETF during the 1st quarter worth approximately $423,000.

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. IBLC was launched on Apr 25, 2022 and is managed by BlackRock.