The Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) experienced a notable decrease in short interest during December 2023. As of December 31, short interest fell to 734,329 shares, representing a significant 26.2% decline from the total of 995,390 shares recorded on December 15. Currently, approximately 3.8% of the ETF’s shares are sold short, reflecting investor sentiment towards the fund’s performance. The average daily trading volume stands at 212,949 shares, leading to a days-to-cover ratio of 3.4 days.
In terms of institutional trading, several notable investors have adjusted their positions in BLOK recently. Mather Group LLC initiated a new stake during the third quarter, investing $27,000. Meanwhile, Private Trust Co. NA significantly increased its stake by 509.6% during the second quarter, now holding 573 shares valued at approximately $33,000 after acquiring an additional 479 shares. Other firms, including DHJJ Financial Advisors Ltd. and Sound Income Strategies LLC, have also made strategic investments, with the latter increasing its stake by 69.0% in the third quarter.
Price Performance and Market Overview
On the trading front, BLOK’s shares rose by $1.55 to reach $65.81 during Friday’s trading session. The ETF recorded a trading volume of 1,767,327 shares, a substantial increase compared to its average volume of 486,109 shares. Over the past few months, BLOK maintained a 50-day moving average of $60.65 and a 200-day moving average of $62.46. The fund currently boasts a market capitalization of $1.31 billion, with a price-to-earnings ratio of 24.76 and a beta of 2.10. Over the past year, the ETF has fluctuated between a low of $31.32 and a high of $75.89.
The Amplify Transformational Data Sharing ETF, launched on January 16, 2018, primarily invests in a portfolio of global equities focused on blockchain technology. This actively managed fund aims to capitalize on the growing interest and investment in data-sharing technologies.
Overall, the recent changes in short interest and institutional investments indicate a dynamic response from the market as investors navigate the evolving landscape of blockchain technology and its implications for future growth.
