iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 439.7% in July

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 60,008 shares, a growth of 439.7% from the June 30th total of 11,119 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 78,054 shares, the short-interest ratio is presently 0.8 days.

iShares Copper and Metals Mining ETF Trading Down 0.1%

Shares of NASDAQ ICOP opened at $49.54 on Monday. The firm has a market capitalization of $426.04 million, a price-to-earnings ratio of -17.63 and a beta of 0.92. The business has a fifty day simple moving average of $51.17 and a 200 day simple moving average of $51.07. iShares Copper and Metals Mining ETF has a one year low of $28.51 and a one year high of $60.08.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a $0.2713 dividend. The ex-dividend date of this dividend was Monday, June 15th. iShares Copper and Metals Mining ETF’s dividend payout ratio is -31.67%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several institutional investors have recently added to or reduced their stakes in ICOP. Evanson Financial LLC bought a new position in shares of iShares Copper and Metals Mining ETF in the second quarter valued at approximately $492,000. Western Wealth Management LLC boosted its holdings in iShares Copper and Metals Mining ETF by 32.1% in the first quarter. Western Wealth Management LLC now owns 16,105 shares of the company’s stock valued at $766,000 after acquiring an additional 3,915 shares during the last quarter. Royal Bank of Canada grew its position in shares of iShares Copper and Metals Mining ETF by 57.3% during the 1st quarter. Royal Bank of Canada now owns 9,642 shares of the company’s stock worth $459,000 after buying an additional 3,513 shares during the period. Quantinno Capital Management LP acquired a new stake in iShares Copper and Metals Mining ETF during the 1st quarter worth $909,000. Finally, Dai ichi Life International Holdings LLC bought a new stake in iShares Copper and Metals Mining ETF in the first quarter valued at about $212,000. 1.35% of the stock is owned by institutional investors.

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.