BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Sets New 12-Month High – Time to Buy?

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $81.61 and last traded at $81.61, with a volume of 145 shares. The stock had previously closed at $81.28.

BlackRock U.S. Carbon Transition Readiness ETF Trading Up 1.3%

The firm’s 50-day moving average price is $79.98 and its 200-day moving average price is $76.37. The stock has a market capitalization of $1.24 billion, a PE ratio of 25.46 and a beta of 1.02.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LCTU. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $1,630,000 after purchasing an additional 19,561 shares during the last quarter. Jane Street Group LLC purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF during the first quarter worth $797,000. First Trust Advisors LP bought a new position in BlackRock U.S. Carbon Transition Readiness ETF during the second quarter valued at $217,000. Raymond James Financial Inc. increased its position in BlackRock U.S. Carbon Transition Readiness ETF by 27.9% during the second quarter. Raymond James Financial Inc. now owns 9,040 shares of the company’s stock valued at $608,000 after acquiring an additional 1,972 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in shares of BlackRock U.S. Carbon Transition Readiness ETF by 26.9% in the second quarter. Orion Porfolio Solutions LLC now owns 40,393 shares of the company’s stock valued at $2,717,000 after acquiring an additional 8,562 shares during the period.

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.