iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 201.5% in May

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 98,184 shares, an increase of 201.5% from the April 30th total of 32,567 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 138,270 shares, the days-to-cover ratio is currently 0.7 days.

iShares Copper and Metals Mining ETF Stock Up 0.2%

Shares of ICOP traded up $0.13 on Friday, hitting $54.99. The company’s stock had a trading volume of 71,581 shares, compared to its average volume of 272,452. The firm’s fifty day moving average price is $50.73 and its 200-day moving average price is $48.41. iShares Copper and Metals Mining ETF has a fifty-two week low of $27.52 and a fifty-two week high of $60.08. The firm has a market capitalization of $472.91 million, a price-to-earnings ratio of -19.57 and a beta of 0.83.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several institutional investors and hedge funds have recently modified their holdings of ICOP. Evolution Wealth Management Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF in the 1st quarter valued at approximately $25,000. JFS Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at approximately $27,000. HHM Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp acquired a new position in shares of iShares Copper and Metals Mining ETF in the 1st quarter valued at approximately $29,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of iShares Copper and Metals Mining ETF by 147.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock valued at $59,000 after purchasing an additional 794 shares during the period. 1.35% of the stock is currently owned by institutional investors and hedge funds.

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.