iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Shares Shorted: Short Interest Down 39.6% in September

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 103,471 shares, a decline of 39.6% from the September 15th total of 171,372 shares. Based on an average daily trading volume, of 74,729 shares, the short-interest ratio is currently 1.4 days. Approximately 1.2% of the company’s stock are sold short.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Large investors have recently bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in shares of iShares Copper and Metals Mining ETF by 3.6% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 167,003 shares of the company’s stock valued at $7,946,000 after buying an additional 5,765 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of iShares Copper and Metals Mining ETF by 37.4% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 92,416 shares of the company’s stock worth $4,918,000 after buying an additional 25,165 shares during the period. Kera Capital Partners Inc. increased its stake in iShares Copper and Metals Mining ETF by 54.8% during the 1st quarter. Kera Capital Partners Inc. now owns 37,840 shares of the company’s stock worth $1,800,000 after buying an additional 13,392 shares in the last quarter. Purpose Unlimited Inc. acquired a new stake in shares of iShares Copper and Metals Mining ETF in the fourth quarter valued at about $996,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of iShares Copper and Metals Mining ETF in the 1st quarter worth $909,000. Hedge funds and other institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Performance

Shares of ICOP stock traded down $0.25 during trading hours on Friday, reaching $51.73. The company had a trading volume of 43,726 shares, compared to its average volume of 191,218. iShares Copper and Metals Mining ETF has a one year low of $36.08 and a one year high of $60.93. The business has a fifty day moving average price of $55.42 and a 200-day moving average price of $52.74. The firm has a market cap of $455.22 million, a PE ratio of -18.41 and a beta of 0.99.

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.