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

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 183,067 shares, a growth of 344.4% from the August 15th total of 41,197 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 176,256 shares, the short-interest ratio is currently 1.0 days.

iShares Copper and Metals Mining ETF Trading Down 0.2%

Shares of iShares Copper and Metals Mining ETF stock traded down $0.10 during trading hours on Friday, reaching $55.37. 340,011 shares of the company’s stock were exchanged, compared to its average volume of 207,662. iShares Copper and Metals Mining ETF has a 52-week low of $33.90 and a 52-week high of $60.93. The company has a fifty day moving average of $53.37 and a 200-day moving average of $52.03. The firm has a market capitalization of $476.18 million, a price-to-earnings ratio of -19.70 and a beta of 0.95.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. acquired a new stake in iShares Copper and Metals Mining ETF in the 1st quarter worth about $25,000. Rehmann Capital Advisory Group increased its stake 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 acquiring 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 1st quarter worth about $29,000. Sigma Planning Corp lifted its holdings in shares of iShares Copper and Metals Mining ETF by 6.1% during the 1st quarter. Sigma Planning Corp now owns 12,281 shares of the company’s stock worth $584,000 after acquiring an additional 709 shares during the period. Finally, Markowski Investments acquired a new stake in shares of iShares Copper and Metals Mining ETF in the second quarter worth approximately $37,000. 1.35% of the stock is currently owned by institutional investors and hedge funds.

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.