BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Reaches New 52-Week High – Still a Buy?

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) hit a new 52-week high during trading on Monday . The stock traded as high as $83.39 and last traded at $83.26, with a volume of 5935 shares. The stock had previously closed at $83.27.

BlackRock U.S. Carbon Transition Readiness ETF Stock Down 0.1%

The stock’s 50-day simple moving average is $80.18 and its two-hundred day simple moving average is $76.59. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.46 and a beta of 1.02.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LCTU. Centurion Wealth Management LLC lifted its stake in BlackRock U.S. Carbon Transition Readiness ETF by 2.8% in the 2nd quarter. Centurion Wealth Management LLC now owns 6,220 shares of the company’s stock valued at $499,000 after buying an additional 169 shares in the last quarter. Focus Financial Network Inc. raised its holdings in shares of BlackRock U.S. Carbon Transition Readiness ETF by 61.7% during the second quarter. Focus Financial Network Inc. now owns 8,369 shares of the company’s stock valued at $671,000 after acquiring an additional 3,192 shares during the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of BlackRock U.S. Carbon Transition Readiness ETF during the second quarter valued at approximately $241,000. Ehrlich Financial Group raised its holdings in shares of BlackRock U.S. Carbon Transition Readiness ETF by 7.7% during the second quarter. Ehrlich Financial Group now owns 3,244 shares of the company’s stock valued at $260,000 after acquiring an additional 232 shares during the last quarter. Finally, Contango Wealth Management LLC purchased a new position in shares of BlackRock U.S. Carbon Transition Readiness ETF in the first quarter valued at approximately $649,000.

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.