iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Large Growth in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 170,609 shares, a growth of 111.4% from the January 15th total of 80,695 shares. Based on an average trading volume of 752,393 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.2% of the shares of the stock are short sold. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 752,393 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ICOP. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of iShares Copper and Metals Mining ETF by 1.6% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 154,203 shares of the company’s stock worth $4,611,000 after purchasing an additional 2,451 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in iShares Copper and Metals Mining ETF by 40.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 784,271 shares of the company’s stock worth $23,450,000 after buying an additional 227,272 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new position in iShares Copper and Metals Mining ETF in the third quarter worth approximately $350,000. TD Waterhouse Canada Inc. bought a new position in shares of iShares Copper and Metals Mining ETF in the third quarter valued at $1,144,000. Finally, SLT Holdings LLC bought a new position in shares of iShares Copper and Metals Mining ETF in the fourth quarter valued at $211,000. 1.35% of the stock is owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Price Performance

ICOP opened at $52.74 on Friday. The company has a market capitalization of $414.01 million, a price-to-earnings ratio of -18.77 and a beta of 0.85. iShares Copper and Metals Mining ETF has a 1-year low of $21.10 and a 1-year high of $60.08. The business has a 50 day moving average price of $47.88 and a two-hundred day moving average price of $39.82.

iShares Copper and Metals Mining ETF Cuts Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 30th were issued a $0.0295 dividend. The ex-dividend date was Tuesday, December 30th. This represents a dividend yield of 13.0%. iShares Copper and Metals Mining ETF’s dividend payout ratio is -32.74%.

iShares Copper and Metals Mining ETF Company Profile

The iShares Copper and Metals Mining ETF (ICOP) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-capitalization weighted index composed of stocks of copper and metal ore mining companies globally. Stocks are quantitatively screened to identify stocks with significant revenue tied to this space ICOP was launched on Jun 21, 2023 and is managed by BlackRock.