Global X Copper Miners ETF (NYSEARCA:COPX) Hits New 1-Year High – Time to Buy?

Global X Copper Miners ETF (NYSEARCA:COPX)’s stock price hit a new 52-week high on Friday . The company traded as high as $70.89 and last traded at $71.0180, with a volume of 1036182 shares. The stock had previously closed at $69.15.

Global X Copper Miners ETF Trading Up 2.4%

The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 18.04 and a beta of 1.16. The stock has a fifty day moving average price of $62.91 and a 200 day moving average price of $53.32.

Hedge Funds Weigh In On Global X Copper Miners ETF

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Global X Copper Miners ETF by 14.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 71,888 shares of the company’s stock worth $3,235,000 after purchasing an additional 8,985 shares during the period. Moulton Wealth Management Inc. acquired a new stake in Global X Copper Miners ETF during the third quarter worth about $1,166,000. Wealth Enhancement Advisory Services LLC increased its stake in Global X Copper Miners ETF by 3.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,617 shares of the company’s stock valued at $2,166,000 after acquiring an additional 1,355 shares during the period. Farther Finance Advisors LLC bought a new position in Global X Copper Miners ETF during the second quarter valued at about $158,000. Finally, Trivium Point Advisory LLC acquired a new position in Global X Copper Miners ETF in the 2nd quarter valued at approximately $1,111,000.

About Global X Copper Miners ETF

Global X Copper Miners ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Copper Miners Index. The Solactive Global Copper Miners Index is designed to reflect the performance of the copper mining industry. It is comprised of common stocks, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) of selected companies globally, which are engaged in some aspect of the copper mining industry such as copper mining, refining or exploration.