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

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 11,119 shares, a drop of 80.2% from the June 15th total of 56,030 shares. Based on an average daily volume of 93,295 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of iShares Copper and Metals Mining ETF during the 2nd quarter worth approximately $1,017,000. Allie Family Office LLC acquired a new position in iShares Copper and Metals Mining ETF in the third quarter valued at about $206,000. 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 valued at $1,505,000 after buying an additional 29,480 shares during the period. Sunbelt Securities Inc. bought a new position in iShares Copper and Metals Mining ETF during the third quarter worth about $76,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at about $27,000. 1.35% of the stock is currently owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Trading Down 2.3%

Shares of iShares Copper and Metals Mining ETF stock traded down $1.14 during trading on Monday, reaching $47.61. The company’s stock had a trading volume of 54,145 shares, compared to its average volume of 236,490. iShares Copper and Metals Mining ETF has a one year low of $28.51 and a one year high of $60.08. The stock has a market capitalization of $414.21 million, a P/E ratio of -16.94 and a beta of 0.92. The stock has a 50-day moving average price of $52.01 and a two-hundred day moving average price of $50.83.

iShares Copper and Metals Mining ETF Dividend Announcement

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

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.