iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Hits New 1-Year High – What’s Next?

iShares Copper and Metals Mining ETF (NASDAQ:ICOP)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $60.17 and last traded at $59.75, with a volume of 38494 shares changing hands. The stock had previously closed at $59.34.

iShares Copper and Metals Mining ETF Stock Up 0.9%

The company has a market cap of $515.14 million, a P/E ratio of -21.32 and a beta of 0.92. The business has a fifty day simple moving average of $51.30 and a two-hundred day simple moving average of $51.49.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given 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 presently -31.67%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

A number of institutional investors and hedge funds have recently made changes to their positions in ICOP. Sigma Planning Corp bought a new position in iShares Copper and Metals Mining ETF in the fourth quarter worth approximately $513,000. Western Wealth Management LLC bought a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at $540,000. Purpose Unlimited Inc. bought a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at $996,000. Kera Capital Partners Inc. bought a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at $1,083,000. Finally, Clare Market Investments LLC purchased a new stake in shares of iShares Copper and Metals Mining ETF in the 1st quarter worth $521,000. Hedge funds and other institutional investors own 1.35% of the company’s stock.

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.