iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Decrease in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 29,555 shares, a decrease of 55.2% from the February 26th total of 65,968 shares. Based on an average daily volume of 267,192 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are short sold.

Institutional Trading of iShares Copper and Metals Mining ETF

A number of large investors have recently modified their holdings of the company. JFS Wealth Advisors LLC acquired a new stake in iShares Copper and Metals Mining ETF in the 4th quarter valued at about $27,000. HHM Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter worth $29,000. Steward Partners Investment Advisory LLC raised its position 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 worth $59,000 after purchasing an additional 794 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of iShares Copper and Metals Mining ETF during the third quarter valued at $76,000. Finally, Simplex Trading LLC acquired a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at $169,000. Institutional investors and hedge funds own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Up 1.1%

Shares of ICOP traded up $0.50 during trading on Friday, reaching $44.81. The company’s stock had a trading volume of 150,683 shares, compared to its average volume of 377,576. iShares Copper and Metals Mining ETF has a twelve month low of $21.10 and a twelve month high of $60.08. The company has a market cap of $351.76 million, a price-to-earnings ratio of -15.95 and a beta of 0.85. The company has a fifty day moving average of $51.21 and a two-hundred day moving average of $43.95.

iShares Copper and Metals Mining ETF Cuts Dividend

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

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.