Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Rises By 859.2%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 229,638 shares, a growth of 859.2% from the December 15th total of 23,940 shares. Based on an average trading volume of 146,143 shares, the short-interest ratio is presently 1.6 days. Currently, 5.3% of the company’s stock are sold short. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 146,143 shares, the short-interest ratio is presently 1.6 days.

Institutional Trading of iShares Copper and Metals Mining ETF

Several institutional investors and hedge funds have recently made changes to their positions in ICOP. Sunbelt Securities Inc. purchased a new position in iShares Copper and Metals Mining ETF in the third quarter worth $76,000. Allie Family Office LLC purchased a new position in shares of iShares Copper and Metals Mining ETF in the 3rd quarter worth about $206,000. J. Safra Sarasin Holding AG bought a new position in iShares Copper and Metals Mining ETF during the third quarter valued at about $350,000. SeaCrest Wealth Management LLC bought a new position in iShares Copper and Metals Mining ETF during the second quarter valued at about $518,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the third quarter worth about $1,144,000. Hedge funds and other institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Performance

ICOP stock opened at $48.84 on Tuesday. The business has a 50-day simple moving average of $41.78 and a two-hundred day simple moving average of $36.43. The company has a market capitalization of $212.45 million, a P/E ratio of -17.38 and a beta of 0.85. iShares Copper and Metals Mining ETF has a 52-week low of $21.10 and a 52-week high of $48.99.

iShares Copper and Metals Mining ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, January 5th. Investors of record on Tuesday, December 30th were issued a dividend of $0.0295 per share. The ex-dividend date was Tuesday, December 30th. This represents a yield of 13.0%. iShares Copper and Metals Mining ETF’s dividend payout ratio is -32.74%.

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.