Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Expands By 134.1%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,300 shares, an increase of 134.1% from the August 15th total of 4,400 shares. Based on an average daily volume of 31,400 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the 2nd quarter valued at about $289,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of iShares Copper and Metals Mining ETF by 80.6% in the second quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock valued at $54,000 after purchasing an additional 806 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. lifted its position in iShares Copper and Metals Mining ETF by 1.5% during the second quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock worth $907,000 after buying an additional 476 shares in the last quarter. 1.35% of the stock is owned by hedge funds and other institutional investors.

iShares Copper and Metals Mining ETF Stock Up 1.1 %

Shares of ICOP opened at $28.37 on Friday. iShares Copper and Metals Mining ETF has a 52-week low of $21.54 and a 52-week high of $35.41. The stock has a market cap of $31.21 million, a PE ratio of -10.10 and a beta of 1.04. The firm’s fifty day moving average is $28.75 and its two-hundred day moving average is $29.49.

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.