iShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 183,067 shares, a growth of 344.4% from the August 15th total of 41,197 shares. Based on an average trading volume of 176,256 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% of the company’s shares are sold short.
Hedge Funds Weigh In On iShares Copper and Metals Mining ETF
Institutional investors and hedge funds have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new stake in shares of iShares Copper and Metals Mining ETF in the 1st quarter worth approximately $25,000. Fifth Third Bancorp purchased a new stake in shares of iShares Copper and Metals Mining ETF in the first quarter worth $29,000. Markowski Investments purchased a new stake in shares of iShares Copper and Metals Mining ETF in the second quarter worth $37,000. Steward Partners Investment Advisory LLC increased its holdings in shares of iShares Copper and Metals Mining ETF by 147.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock valued at $59,000 after acquiring an additional 794 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of iShares Copper and Metals Mining ETF during the third quarter valued at $76,000. Institutional investors own 1.35% of the company’s stock.
iShares Copper and Metals Mining ETF Trading Down 0.2%
iShares Copper and Metals Mining ETF stock traded down $0.10 during trading hours on Friday, hitting $55.37. 340,011 shares of the stock traded hands, compared to its average volume of 207,662. iShares Copper and Metals Mining ETF has a one year low of $33.90 and a one year high of $60.93. The company has a market cap of $476.18 million, a PE ratio of -19.70 and a beta of 0.95. The firm’s 50-day moving average price is $53.37 and its two-hundred day moving average price is $52.03.
About iShares Copper and Metals Mining ETF
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.
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