BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) Sees Significant Growth in Short Interest

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 30,321 shares, a growth of 125.3% from the April 30th total of 13,458 shares. Based on an average daily volume of 26,811 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.2% of the shares of the company are short sold.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of LCTU. Goldman Sachs Group Inc. boosted its stake in BlackRock U.S. Carbon Transition Readiness ETF by 266.6% in the first quarter. Goldman Sachs Group Inc. now owns 26,898 shares of the company’s stock valued at $1,630,000 after acquiring an additional 19,561 shares during the period. Jane Street Group LLC acquired a new position in BlackRock U.S. Carbon Transition Readiness ETF in the first quarter valued at approximately $797,000. First Trust Advisors LP bought a new position in shares of BlackRock U.S. Carbon Transition Readiness ETF during the second quarter worth about $217,000. Raymond James Financial Inc. grew its position in shares of BlackRock U.S. Carbon Transition Readiness ETF by 27.9% during the second quarter. Raymond James Financial Inc. now owns 9,040 shares of the company’s stock worth $608,000 after acquiring an additional 1,972 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in shares of BlackRock U.S. Carbon Transition Readiness ETF by 26.9% during the second quarter. Orion Porfolio Solutions LLC now owns 40,393 shares of the company’s stock worth $2,717,000 after acquiring an additional 8,562 shares during the last quarter.

BlackRock U.S. Carbon Transition Readiness ETF Price Performance

LCTU traded up $0.30 during trading hours on Tuesday, hitting $81.06. 38,320 shares of the stock were exchanged, compared to its average volume of 40,845. The stock has a 50-day simple moving average of $75.53 and a 200-day simple moving average of $74.50. BlackRock U.S. Carbon Transition Readiness ETF has a 12 month low of $63.72 and a 12 month high of $81.26. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 25.46 and a beta of 1.02.

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.