Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Increases By 439.7%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large growth in short interest in 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. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 78,054 shares, the days-to-cover ratio is currently 0.8 days.

iShares Copper and Metals Mining ETF Trading Down 0.4%

iShares Copper and Metals Mining ETF stock traded down $0.18 during midday trading on Friday, reaching $49.39. The stock had a trading volume of 88,255 shares, compared to its average volume of 224,980. iShares Copper and Metals Mining ETF has a 12 month low of $28.51 and a 12 month high of $60.08. The company has a market capitalization of $424.75 million, a P/E ratio of -17.58 and a beta of 0.92. The company has a fifty day moving average price of $51.17 and a two-hundred day moving average price of $51.04.

iShares Copper and Metals Mining ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a $0.2713 dividend. The ex-dividend date of this dividend was Monday, June 15th. iShares Copper and Metals Mining ETF’s dividend payout ratio (DPR) is -31.67%.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Sigma Planning Corp bought a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter worth $513,000. Western Wealth Management LLC bought a new stake in iShares Copper and Metals Mining ETF during the 4th quarter valued at $540,000. Purpose Unlimited Inc. bought a new stake in iShares Copper and Metals Mining ETF during the 4th quarter valued at $996,000. Kera Capital Partners Inc. bought a new stake in iShares Copper and Metals Mining ETF during the 4th quarter valued at $1,083,000. Finally, Clare Market Investments LLC acquired a new position in iShares Copper and Metals Mining ETF during the first quarter worth $521,000. Institutional investors own 1.35% of the company’s stock.

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.