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

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) shares hit a new 52-week high on Monday . The stock traded as high as $65.75 and last traded at $65.52, with a volume of 5330 shares trading hands. The stock had previously closed at $65.23.

BlackRock U.S. Carbon Transition Readiness ETF Stock Performance

The stock has a market cap of $1.39 billion, a PE ratio of 25.25 and a beta of 1.00. The firm has a fifty day moving average price of $63.41 and a 200 day moving average price of $60.79.

Hedge Funds 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. B. Riley Wealth Advisors Inc. increased its holdings in shares of BlackRock U.S. Carbon Transition Readiness ETF by 34.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 19,515 shares of the company’s stock valued at $1,120,000 after purchasing an additional 5,021 shares during the period. Citizens Financial Group Inc. RI acquired a new position in BlackRock U.S. Carbon Transition Readiness ETF in the 1st quarter worth approximately $222,000. Cetera Investment Advisers raised its position in BlackRock U.S. Carbon Transition Readiness ETF by 46.9% during the 1st quarter. Cetera Investment Advisers now owns 285,757 shares of the company’s stock worth $16,405,000 after buying an additional 91,251 shares during the last quarter. Cetera Advisors LLC lifted its stake in BlackRock U.S. Carbon Transition Readiness ETF by 92.3% during the 1st quarter. Cetera Advisors LLC now owns 58,145 shares of the company’s stock valued at $3,338,000 after acquiring an additional 27,901 shares during the period. Finally, Buttonwood Financial Group LLC boosted its holdings in shares of BlackRock U.S. Carbon Transition Readiness ETF by 5.8% in the 2nd quarter. Buttonwood Financial Group LLC now owns 12,537 shares of the company’s stock valued at $746,000 after acquiring an additional 691 shares during 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.