iShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 183,067 shares, an increase of 344.4% from the August 15th total of 41,197 shares. Based on an average trading volume of 176,256 shares, the short-interest ratio is presently 1.0 days. Approximately 2.1% of the company’s shares are sold short.
iShares Copper and Metals Mining ETF Stock Performance
Shares of NASDAQ:ICOP traded up $0.42 during midday trading on Friday, reaching $55.90. The company’s stock had a trading volume of 47,627 shares, compared to its average volume of 205,938. The firm has a market capitalization of $480.70 million, a price-to-earnings ratio of -19.89 and a beta of 0.95. The firm has a 50 day moving average price of $53.25 and a two-hundred day moving average price of $52.01. iShares Copper and Metals Mining ETF has a fifty-two week low of $33.90 and a fifty-two week high of $60.93.
Hedge Funds Weigh In On iShares Copper and Metals Mining ETF
A number of institutional investors and hedge funds have recently modified their holdings of the business. Western Wealth Management LLC bought a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth about $540,000. Purpose Unlimited Inc. bought a new stake in iShares Copper and Metals Mining ETF in the 4th quarter valued at about $996,000. Kera Capital Partners Inc. acquired a new position in iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $1,083,000. Quantinno Capital Management LP bought a new position in iShares Copper and Metals Mining ETF in the first quarter worth approximately $909,000. Finally, Clare Market Investments LLC bought a new position in iShares Copper and Metals Mining ETF in the first quarter worth approximately $521,000. 1.35% of the stock is currently owned by institutional investors.
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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