iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 201.5% in May
by Jessica Moore · The Cerbat GemiShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 98,184 shares, an increase of 201.5% from the April 30th total of 32,567 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 138,270 shares, the short-interest ratio is presently 0.7 days.
iShares Copper and Metals Mining ETF Trading Up 0.2%
Shares of ICOP traded up $0.13 on Friday, reaching $54.99. 71,581 shares of the company’s stock were exchanged, compared to its average volume of 272,452. The stock has a market capitalization of $472.91 million, a P/E ratio of -19.57 and a beta of 0.83. iShares Copper and Metals Mining ETF has a 12 month low of $27.52 and a 12 month high of $60.08. The business has a 50 day moving average price of $50.73 and a two-hundred day moving average price of $48.41.
Hedge Funds Weigh In On iShares Copper and Metals Mining ETF
Institutional investors have recently modified their holdings of the stock. Evolution Wealth Management Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF during the 1st quarter worth about $25,000. Fifth Third Bancorp acquired a new position in shares of iShares Copper and Metals Mining ETF during the 1st quarter worth about $29,000. JFS Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth about $27,000. HHM Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth about $29,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of iShares Copper and Metals Mining ETF by 147.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock worth $59,000 after buying an additional 794 shares during the period. 1.35% of the stock is currently owned by institutional investors and hedge funds.
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.