iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 53.3% in February

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 65,968 shares, a decline of 53.3% from the February 12th total of 141,322 shares. Based on an average daily volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.8% of the shares of the company are sold short. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days.

iShares Copper and Metals Mining ETF Trading Down 2.9%

NASDAQ ICOP traded down $1.46 during trading on Thursday, reaching $48.76. The company’s stock had a trading volume of 226,199 shares, compared to its average volume of 409,114. iShares Copper and Metals Mining ETF has a 12 month low of $21.10 and a 12 month high of $60.08. The firm has a 50 day moving average price of $51.70 and a 200 day moving average price of $42.93. The firm has a market capitalization of $382.77 million, a price-to-earnings ratio of -17.35 and a beta of 0.85.

iShares Copper and Metals Mining ETF Cuts Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 30th were issued a $0.0295 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a yield of 13.0%. iShares Copper and Metals Mining ETF’s payout ratio is currently -32.74%.

Institutional Trading of iShares Copper and Metals Mining ETF

Large investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC bought a new position in shares of iShares Copper and Metals Mining ETF in the fourth quarter worth $27,000. HHM Wealth Advisors LLC bought a new stake in iShares Copper and Metals Mining ETF during the fourth quarter worth about $29,000. Steward Partners Investment Advisory LLC grew its stake in iShares Copper and Metals Mining ETF by 147.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock worth $59,000 after buying an additional 794 shares in the last quarter. Royal Bank of Canada grew its stake in iShares Copper and Metals Mining ETF by 46.1% during the fourth quarter. Royal Bank of Canada now owns 6,129 shares of the company’s stock worth $271,000 after buying an additional 1,934 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in iShares Copper and Metals Mining ETF in the 3rd quarter valued at about $76,000. 1.35% of the stock is 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.