BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Sees Large Drop in Short Interest

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 11,820 shares, a drop of 61.0% from the May 14th total of 30,321 shares. Based on an average trading volume of 74,051 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

BlackRock U.S. Carbon Transition Readiness ETF Stock Performance

Shares of NYSEARCA:LCTU traded up $0.34 during midday trading on Friday, hitting $79.38. 20,971 shares of the stock were exchanged, compared to its average volume of 39,510. BlackRock U.S. Carbon Transition Readiness ETF has a 52-week low of $64.48 and a 52-week high of $81.26. The business’s fifty day simple moving average is $77.27 and its two-hundred day simple moving average is $74.94. The company has a market capitalization of $1.49 billion, a PE ratio of 25.46 and a beta of 1.02.

Institutional Trading of BlackRock U.S. Carbon Transition Readiness ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Asempa Wealth Advisors bought a new position in BlackRock U.S. Carbon Transition Readiness ETF during the fourth quarter valued at about $846,000. Merit Financial Group LLC raised its holdings in BlackRock U.S. Carbon Transition Readiness ETF by 30.5% during the fourth quarter. Merit Financial Group LLC now owns 44,223 shares of the company’s stock valued at $3,277,000 after buying an additional 10,348 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in BlackRock U.S. Carbon Transition Readiness ETF by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 784,046 shares of the company’s stock valued at $56,905,000 after buying an additional 143,335 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in BlackRock U.S. Carbon Transition Readiness ETF by 349.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 20,388 shares of the company’s stock valued at $1,511,000 after buying an additional 15,856 shares in the last quarter. Finally, Sofi Wealth LLC raised its holdings in BlackRock U.S. Carbon Transition Readiness ETF by 24.1% during the fourth quarter. Sofi Wealth LLC now owns 97,609 shares of the company’s stock valued at $7,232,000 after buying an additional 18,957 shares in the last quarter.

About BlackRock U.S. Carbon Transition Readiness ETF

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.