iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Share Price Pass Below 200 Day Moving Average – Time to Sell?

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.64 and traded as low as $28.78. iShares Copper and Metals Mining ETF shares last traded at $28.99, with a volume of 6,135 shares trading hands.

iShares Copper and Metals Mining ETF Price Performance

The company has a 50 day moving average of $29.49 and a two-hundred day moving average of $29.60. The company has a market capitalization of $31.99 million, a PE ratio of -9.90 and a beta of 1.04.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc increased its stake in iShares Copper and Metals Mining ETF by 80.6% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock valued at $54,000 after purchasing an additional 806 shares in the last quarter. WT Wealth Management purchased a new stake in iShares Copper and Metals Mining ETF in the third quarter worth approximately $225,000. Sunbelt Securities Inc. bought a new stake in iShares Copper and Metals Mining ETF in the 2nd quarter worth approximately $289,000. Finally, Bright Futures Wealth Management LLC. raised its stake in iShares Copper and Metals Mining ETF by 1.5% during the 2nd quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock valued at $907,000 after buying an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 1.35% of the company’s stock.

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.