iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Increase in Short Interest
by Teresa Graham · The Cerbat GemiShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 60,008 shares, a growth of 439.7% from the June 30th total of 11,119 shares. Based on an average daily volume of 78,054 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.7% of the shares of the company are short sold.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. bought a new position in shares of iShares Copper and Metals Mining ETF in the first quarter worth $25,000. Fifth Third Bancorp acquired a new position in shares of iShares Copper and Metals Mining ETF during the first quarter valued at $29,000. JFS Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF during the fourth quarter valued at $27,000. HHM Wealth Advisors LLC bought a new stake in shares of iShares Copper and Metals Mining ETF during the fourth quarter valued at about $29,000. Finally, Steward Partners Investment Advisory LLC raised its stake 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 purchasing an additional 794 shares in the last quarter. Institutional investors and hedge funds own 1.35% of the company’s stock.
iShares Copper and Metals Mining ETF Price Performance
Shares of NASDAQ ICOP traded down $0.18 during midday trading on Friday, hitting $49.39. 88,255 shares of the company’s stock were exchanged, compared to its average volume of 224,980. The stock’s 50 day moving average price is $51.17 and its 200-day moving average price is $51.04. The firm has a market cap of $424.75 million, a P/E ratio of -17.58 and a beta of 0.92. iShares Copper and Metals Mining ETF has a twelve month low of $28.51 and a twelve month high of $60.08.
iShares Copper and Metals Mining ETF Announces Dividend
The firm also recently announced a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a $0.2713 dividend. The ex-dividend date was Monday, June 15th. iShares Copper and Metals Mining ETF’s dividend payout ratio (DPR) is currently -31.67%.
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.