iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 53.3% in February

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 65,968 shares, a decrease of 53.3% from the February 12th total of 141,322 shares. Based on an average daily volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.8% of the company’s stock are short sold. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of iShares Copper and Metals Mining ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. bought a new stake in iShares Copper and Metals Mining ETF during the third quarter worth about $1,144,000. J. Safra Sarasin Holding AG bought a new position in iShares Copper and Metals Mining ETF in the third quarter valued at approximately $350,000. Kera Capital Partners Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $1,083,000. Foundations Investment Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $211,000. Finally, IFG Advisory LLC bought a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $245,000. Institutional investors and hedge funds own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Performance

iShares Copper and Metals Mining ETF stock traded down $1.46 during mid-day trading on Thursday, reaching $48.76. The company’s stock had a trading volume of 226,199 shares, compared to its average volume of 409,114. iShares Copper and Metals Mining ETF has a 12 month low of $21.10 and a 12 month high of $60.08. The business’s 50 day simple moving average is $51.70 and its 200 day simple moving average is $42.93. The company has a market capitalization of $382.77 million, a price-to-earnings ratio of -17.35 and a beta of 0.85.

iShares Copper and Metals Mining ETF Cuts Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.0295 per share. This represents a dividend yield of 13.0%. The ex-dividend date was Tuesday, December 30th. iShares Copper and Metals Mining ETF’s dividend payout ratio is currently -32.74%.

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.