iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Stock Short Interest Falls 39.6%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 103,471 shares, a decrease of 39.6% from the September 15th total of 171,372 shares. Based on an average daily volume of 74,729 shares, the short-interest ratio is currently 1.4 days. Currently, 1.2% of the company’s shares are short sold.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several hedge funds and other 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 valued at about $25,000. Fifth Third Bancorp acquired a new position in shares of iShares Copper and Metals Mining ETF during the 1st quarter worth about $29,000. Markowski Investments purchased a new position in shares of iShares Copper and Metals Mining ETF in the 2nd quarter valued at about $37,000. Center for Financial Planning Inc. acquired a new position in iShares Copper and Metals Mining ETF in the first quarter valued at approximately $126,000. Finally, Farther Finance Advisors LLC raised its holdings in iShares Copper and Metals Mining ETF by 17.4% during the third quarter. Farther Finance Advisors LLC now owns 3,080 shares of the company’s stock worth $164,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Down 0.5%

ICOP stock traded down $0.25 during mid-day trading on Friday, hitting $51.73. 43,726 shares of the company were exchanged, compared to its average volume of 191,218. iShares Copper and Metals Mining ETF has a 12-month low of $36.08 and a 12-month high of $60.93. The business has a fifty day simple moving average of $55.50 and a 200-day simple moving average of $52.74. The firm has a market capitalization of $455.22 million, a P/E ratio of -18.41 and a beta of 0.99.

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.