MAC Copper Limited (NYSE:MTAL) Sees Significant Decline in Short Interest

MAC Copper Limited (NYSE:MTAL) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 243 shares, a decrease of 85.8% from the July 15th total of 1,717 shares. Based on an average daily volume of 12,946 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

MAC Copper Stock Performance

MAC Copper stock traded down $0.01 during trading on Thursday, hitting $10.19. The company’s stock had a trading volume of 7,580 shares, compared to its average volume of 22,828. The stock’s fifty day moving average is $10.20 and its 200 day moving average is $10.97. MAC Copper has a 1-year low of $10.00 and a 1-year high of $11.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in MAC Copper by 10,692.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock worth $34,000 after purchasing an additional 2,780 shares during the last quarter. Parallel Advisors LLC acquired a new position in shares of MAC Copper in the 3rd quarter valued at $44,000. Russell Investments Group Ltd. grew its stake in shares of MAC Copper by 56.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock valued at $74,000 after buying an additional 2,197 shares during the period. Legal & General Group Plc increased its holdings in shares of MAC Copper by 135.5% during the 2nd quarter. Legal & General Group Plc now owns 11,661 shares of the company’s stock worth $141,000 after buying an additional 6,709 shares during the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of MAC Copper during the 3rd quarter worth $159,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

About MAC Copper

Metals Acquisition Limited focuses on mining and production of copper and silver. It operates the CSA copper mine in Cobar, Australia. The company was incorporated in 2022 and is headquartered in Saint Helier, Jersey.