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) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $81.27 and last traded at $81.21, with a volume of 12288 shares changing hands. The stock had previously closed at $80.85.

BlackRock U.S. Carbon Transition Readiness ETF Stock Up 0.4%

The stock has a market cap of $1.50 billion, a P/E ratio of 25.46 and a beta of 1.02. The company’s 50 day moving average price is $79.49 and its 200-day moving average price is $75.76.

Hedge Funds Weigh In On BlackRock U.S. Carbon Transition Readiness ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Grp LLC bought a new stake in BlackRock U.S. Carbon Transition Readiness ETF during the first quarter valued at $27,000. Western Wealth Management LLC bought a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF during the first quarter worth about $28,000. Camelot Portfolios LLC purchased a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF in the fourth quarter worth approximately $30,000. Clean Yield Group bought a new position in BlackRock U.S. Carbon Transition Readiness ETF during the 4th quarter valued at $31,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of BlackRock U.S. Carbon Transition Readiness ETF during the fourth quarter valued at about $45,000.

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.