iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Decline in Short Interest
by Scott Moore · The Cerbat GemiShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) was the target of a significant decline in short interest in 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. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 140,426 shares, the short-interest ratio is currently 0.2 days.
iShares Copper and Metals Mining ETF Price Performance
Shares of ICOP traded down $3.60 on Friday, reaching $51.88. 182,938 shares of the stock traded hands, compared to its average volume of 287,716. The firm has a market cap of $446.17 million, a price-to-earnings ratio of -18.46 and a beta of 0.83. iShares Copper and Metals Mining ETF has a 12 month low of $26.94 and a 12 month high of $60.08. The stock’s 50-day moving average price is $49.92 and its 200-day moving average price is $47.38.
Institutional Trading of iShares Copper and Metals Mining ETF
A number of large investors have recently bought and sold shares of ICOP. LPL Financial LLC boosted its stake in iShares Copper and Metals Mining ETF by 1,008.5% in the fourth quarter. LPL Financial LLC now owns 94,257 shares of the company’s stock worth $4,177,000 after purchasing an additional 85,754 shares in the last quarter. Jane Street Group LLC lifted its stake in iShares Copper and Metals Mining ETF by 252.8% in the fourth quarter. Jane Street Group LLC now owns 79,423 shares of the company’s stock valued at $3,519,000 after buying an additional 56,910 shares during the period. TD Waterhouse Canada Inc. acquired a new position in iShares Copper and Metals Mining ETF in the third quarter valued at about $1,144,000. Citadel Advisors LLC increased its holdings in shares of iShares Copper and Metals Mining ETF by 280.4% in the third quarter. Citadel Advisors LLC now owns 39,995 shares of the company’s stock worth $1,505,000 after acquiring an additional 29,480 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of iShares Copper and Metals Mining ETF in the fourth quarter worth about $1,240,000. 1.35% of the stock is currently owned by institutional investors.
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.