Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Increases By 54.7%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 34,500 shares, a growth of 54.7% from the February 28th total of 22,300 shares. Based on an average trading volume of 23,100 shares, the short-interest ratio is presently 1.5 days. Approximately 1.9% of the company’s shares are short sold.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. OLD Mission Capital LLC lifted its position in shares of iShares Copper and Metals Mining ETF by 76.1% in the 4th quarter. OLD Mission Capital LLC now owns 72,199 shares of the company’s stock worth $1,843,000 after purchasing an additional 31,200 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth $3,698,000. IFP Advisors Inc bought a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at about $38,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in iShares Copper and Metals Mining ETF in the fourth quarter valued at about $548,000. 1.35% of the stock is owned by institutional investors.

iShares Copper and Metals Mining ETF Trading Down 2.3 %

Shares of iShares Copper and Metals Mining ETF stock traded down $0.62 on Monday, hitting $25.90. 18,259 shares of the company traded hands, compared to its average volume of 27,518. The company has a market cap of $46.62 million, a PE ratio of -9.22 and a beta of 1.04. The stock’s 50 day moving average price is $26.74 and its 200-day moving average price is $28.05. iShares Copper and Metals Mining ETF has a 52 week low of $24.65 and a 52 week high of $35.41.

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.