iShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 32,567 shares, a decline of 66.2% from the April 15th total of 96,378 shares. Based on an average daily volume of 140,426 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the shares of the company are sold short.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of iShares Copper and Metals Mining ETF by 3.6% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 167,003 shares of the company’s stock worth $7,946,000 after buying an additional 5,765 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of iShares Copper and Metals Mining ETF by 1,008.5% during the fourth quarter. LPL Financial LLC now owns 94,257 shares of the company’s stock worth $4,177,000 after buying an additional 85,754 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of iShares Copper and Metals Mining ETF by 252.8% during the fourth quarter. Jane Street Group LLC now owns 79,423 shares of the company’s stock worth $3,519,000 after buying an additional 56,910 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of iShares Copper and Metals Mining ETF by 280.4% during the third quarter. Citadel Advisors LLC now owns 39,995 shares of the company’s stock worth $1,505,000 after buying an additional 29,480 shares during the last quarter. Finally, Kera Capital Partners Inc. lifted its holdings in shares of iShares Copper and Metals Mining ETF by 54.8% during the first quarter. Kera Capital Partners Inc. now owns 37,840 shares of the company’s stock worth $1,800,000 after buying an additional 13,392 shares during the last quarter. 1.35% of the stock is currently owned by institutional investors and hedge funds.
iShares Copper and Metals Mining ETF Price Performance
ICOP traded down $3.60 on Friday, hitting $51.88. The company had a trading volume of 182,938 shares, compared to its average volume of 287,716. The company’s fifty day moving average price is $49.95 and its 200 day moving average price is $47.35. iShares Copper and Metals Mining ETF has a 1-year low of $26.94 and a 1-year high of $60.08. The stock has a market cap of $446.17 million, a price-to-earnings ratio of -18.46 and a beta of 0.83.
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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