BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Shares Break Above 50-Day Moving Average – What’s Next?

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $82.36 and traded as high as $82.56. BlackRock U.S. Carbon Transition Readiness ETF shares last traded at $82.45, with a volume of 78,991 shares trading hands.

BlackRock U.S. Carbon Transition Readiness ETF Stock Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of 25.46 and a beta of 1.02. The business has a 50 day moving average of $82.32 and a 200-day moving average of $78.28.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF in the third quarter worth about $25,000. West Branch Capital LLC purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF during the third quarter valued at approximately $25,000. Wellington Grp LLC purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF during the first quarter valued at approximately $27,000. Western Wealth Management LLC purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF during the first quarter valued at approximately $28,000. Finally, Timbuktu Capital Management LLC purchased a new position in BlackRock U.S. Carbon Transition Readiness ETF during the second quarter valued at approximately $37,000.

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.