iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Large Drop in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 26,327 shares, a decrease of 56.1% from the July 15th total of 60,008 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 62,282 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICOP. LPL Financial LLC raised its stake in shares of iShares Copper and Metals Mining ETF by 1,008.5% during the fourth quarter. LPL Financial LLC now owns 94,257 shares of the company’s stock worth $4,177,000 after acquiring an additional 85,754 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of iShares Copper and Metals Mining ETF by 252.8% during the 4th quarter. Jane Street Group LLC now owns 79,423 shares of the company’s stock valued at $3,519,000 after purchasing an additional 56,910 shares during the last quarter. Citadel Advisors LLC lifted its stake in 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 purchasing an additional 29,480 shares during the last quarter. Marshall Wace LLP purchased a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at about $1,240,000. Finally, Kera Capital Partners Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at about $1,083,000. 1.35% of the stock is currently owned by institutional investors.

iShares Copper and Metals Mining ETF Trading Down 0.4%

Shares of ICOP traded down $0.19 during midday trading on Friday, reaching $53.57. The stock had a trading volume of 63,924 shares, compared to its average volume of 211,469. The company has a market capitalization of $460.70 million, a price-to-earnings ratio of -19.06 and a beta of 0.92. The company’s 50-day moving average is $50.87 and its 200 day moving average is $51.41. iShares Copper and Metals Mining ETF has a 12-month low of $30.59 and a 12-month high of $60.08.

iShares Copper and Metals Mining ETF Dividend Announcement

The company 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 payout ratio is presently -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.