iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Growth in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 41,197 shares, an increase of 56.5% from the July 30th total of 26,327 shares. Based on an average trading volume of 89,554 shares, the short-interest ratio is presently 0.5 days. Currently, 0.5% of the shares of the company are short sold.

iShares Copper and Metals Mining ETF Price Performance

NASDAQ:ICOP opened at $56.26 on Wednesday. The firm has a market capitalization of $483.84 million, a price-to-earnings ratio of -20.02 and a beta of 0.92. iShares Copper and Metals Mining ETF has a one year low of $31.86 and a one year high of $60.93. The business has a fifty day moving average price of $52.02 and a 200-day moving average price of $51.78.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a $0.2713 dividend. The ex-dividend date 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

Large investors have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new stake in iShares Copper and Metals Mining ETF in the 1st quarter valued at $25,000. Rehmann Capital Advisory Group boosted its holdings in shares of iShares Copper and Metals Mining ETF by 12.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,338 shares of the company’s stock valued at $263,000 after purchasing an additional 572 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of iShares Copper and Metals Mining ETF during the first quarter valued at about $29,000. Sigma Planning Corp grew its position in shares of iShares Copper and Metals Mining ETF by 6.1% during the first quarter. Sigma Planning Corp now owns 12,281 shares of the company’s stock valued at $584,000 after purchasing an additional 709 shares in the last quarter. Finally, Markowski Investments bought a new stake in shares of iShares Copper and Metals Mining ETF in the second quarter worth about $37,000. 1.35% of the stock is currently owned by hedge funds and other institutional investors.

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.