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

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU)’s share price reached a new 52-week high on Thursday . The company traded as high as $81.41 and last traded at $81.20, with a volume of 29032 shares traded. The stock had previously closed at $80.96.

BlackRock U.S. Carbon Transition Readiness ETF Stock Down 0.9%

The company’s 50 day simple moving average is $79.78 and its 200-day simple moving average is $75.97. The firm has a market cap of $1.21 billion, a P/E 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 institutional investors and hedge funds have recently modified their holdings of LCTU. Asempa Wealth Advisors purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF in the 4th quarter worth about $846,000. Merit Financial Group LLC grew its stake in BlackRock U.S. Carbon Transition Readiness ETF by 30.5% in the 4th quarter. Merit Financial Group LLC now owns 44,223 shares of the company’s stock worth $3,277,000 after acquiring an additional 10,348 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in BlackRock U.S. Carbon Transition Readiness ETF by 349.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 20,388 shares of the company’s stock worth $1,511,000 after acquiring an additional 15,856 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 worth $56,905,000 after acquiring an additional 143,335 shares during the period. Finally, Archer Investment Management LLC purchased a new position in shares of BlackRock U.S. Carbon Transition Readiness ETF during the fourth quarter worth approximately $1,195,000.

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.