iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 55.2% in March

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 29,555 shares, a decline of 55.2% from the February 26th total of 65,968 shares. Based on an average trading volume of 267,192 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.4% of the company’s stock are short sold.

iShares Copper and Metals Mining ETF Stock Performance

Shares of ICOP traded up $0.50 during trading hours on Friday, hitting $44.81. The company had a trading volume of 150,683 shares, compared to its average volume of 377,576. The stock has a market capitalization of $351.76 million, a price-to-earnings ratio of -15.95 and a beta of 0.85. The firm has a fifty day moving average price of $51.21 and a 200-day moving average price of $43.95. iShares Copper and Metals Mining ETF has a 52-week low of $21.10 and a 52-week high of $60.08.

iShares Copper and Metals Mining ETF Cuts Dividend

The company also recently announced a special dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 30th were issued a $0.0295 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a yield of 13.0%. iShares Copper and Metals Mining ETF’s payout ratio is -32.74%.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

Several institutional investors and hedge funds have recently made changes to their positions in ICOP. JFS Wealth Advisors LLC bought a new position in iShares Copper and Metals Mining ETF in the 4th quarter valued at approximately $27,000. HHM Wealth Advisors LLC purchased a new position in shares of iShares Copper and Metals Mining ETF in the fourth quarter worth $29,000. Steward Partners Investment Advisory LLC raised its stake in shares of iShares Copper and Metals Mining ETF by 147.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock worth $59,000 after purchasing an additional 794 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of iShares Copper and Metals Mining ETF during the third quarter valued at $76,000. Finally, Simplex Trading LLC bought a new position in shares of iShares Copper and Metals Mining ETF during the fourth quarter valued at $169,000. Institutional investors own 1.35% of the company’s stock.

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.