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

BlackRock U.S. Carbon Transition Readiness ETF (NYSEARCA:LCTU) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 22,353 shares, an increase of 1,022.7% from the September 30th total of 1,991 shares. Based on an average daily volume of 29,439 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are short sold.

BlackRock U.S. Carbon Transition Readiness ETF Stock Performance

NYSEARCA LCTU traded up $0.50 on Monday, reaching $81.78. 59,268 shares of the company’s stock traded hands, compared to its average volume of 54,619. The stock has a 50 day moving average price of $82.38 and a 200-day moving average price of $78.14. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 25.46 and a beta of 1.02. BlackRock U.S. Carbon Transition Readiness ETF has a fifty-two week low of $67.95 and a fifty-two week high of $83.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in shares of BlackRock U.S. Carbon Transition Readiness ETF by 362.9% in the second quarter. Envestnet Asset Management Inc. now owns 20,484,323 shares of the company’s stock valued at $1,642,023,000 after acquiring an additional 16,059,516 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF in the second quarter worth approximately $7,359,000. Advisory Solutions Group LLC purchased a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF during the second quarter worth approximately $7,638,000. Sequoia Financial Advisors LLC purchased a new stake in shares of BlackRock U.S. Carbon Transition Readiness ETF during the second quarter worth approximately $11,267,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of BlackRock U.S. Carbon Transition Readiness ETF by 33.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,129,793 shares of the company’s stock worth $90,564,000 after purchasing an additional 286,176 shares in the last quarter.

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.