iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Update

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 22,300 shares, an increase of 40.3% from the February 13th total of 15,900 shares. Based on an average trading volume of 23,200 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.2% of the company’s stock are sold short.

iShares Copper and Metals Mining ETF Stock Performance

NASDAQ ICOP opened at $28.08 on Tuesday. The company has a market cap of $50.54 million, a PE ratio of -9.99 and a beta of 1.04. iShares Copper and Metals Mining ETF has a 52-week low of $24.65 and a 52-week high of $35.41. The firm’s 50 day moving average price is $26.49 and its 200-day moving average price is $28.03.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several hedge funds and other institutional investors have recently modified their holdings of ICOP. IFP Advisors Inc acquired a new position in iShares Copper and Metals Mining ETF during the 4th quarter valued at approximately $38,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at $548,000. OLD Mission Capital LLC lifted its position in iShares Copper and Metals Mining ETF by 76.1% during the 4th quarter. OLD Mission Capital LLC now owns 72,199 shares of the company’s stock worth $1,843,000 after acquiring an additional 31,200 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in iShares Copper and Metals Mining ETF in the fourth quarter valued at approximately $3,698,000. 1.35% of the stock is owned by hedge funds and other institutional investors.

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.