BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Reaches New 1-Year High – Should You Buy?

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $78.87 and last traded at $78.67, with a volume of 26524 shares traded. The stock had previously closed at $78.70.

BlackRock U.S. Carbon Transition Readiness ETF Stock Performance

The company has a market cap of $1.48 billion, a price-to-earnings ratio of 25.46 and a beta of 1.02. The business has a fifty day moving average price of $73.67 and a 200 day moving average price of $74.00.

Institutional Investors Weigh In On BlackRock U.S. Carbon Transition Readiness ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of LCTU. Goldman Sachs Group Inc. grew its position in BlackRock U.S. Carbon Transition Readiness ETF by 266.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,898 shares of the company’s stock worth $1,630,000 after acquiring an additional 19,561 shares during the last quarter. Jane Street Group LLC bought a new stake in BlackRock U.S. Carbon Transition Readiness ETF during the 1st quarter worth $797,000. First Trust Advisors LP bought a new stake in BlackRock U.S. Carbon Transition Readiness ETF during the 2nd quarter worth $217,000. Raymond James Financial Inc. grew its position in BlackRock U.S. Carbon Transition Readiness ETF by 27.9% during the 2nd quarter. Raymond James Financial Inc. now owns 9,040 shares of the company’s stock worth $608,000 after acquiring an additional 1,972 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in BlackRock U.S. Carbon Transition Readiness ETF by 26.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 40,393 shares of the company’s stock worth $2,717,000 after acquiring an additional 8,562 shares during the last quarter.

BlackRock U.S. Carbon Transition Readiness ETF Company Profile

The BlackRock U.S. Carbon Transition Readiness ETF (LCTU) is an exchange-traded fund that is based on the Russell 1000 index. The fund is an actively-managed portfolio of large- and mid-cap US firms in the Russell 1000 Index that are selected and weighted with a preference for lower carbon emissions. LCTU was launched on Apr 6, 2021 and is managed by BlackRock.