iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Large Decline in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 26,327 shares, a decrease of 56.1% from the July 15th total of 60,008 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 62,282 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of iShares Copper and Metals Mining ETF

Several hedge funds have recently added to or reduced their stakes in ICOP. Evolution Wealth Management Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the first quarter worth about $25,000. Fifth Third Bancorp purchased a new position in iShares Copper and Metals Mining ETF in the first quarter valued at about $29,000. Sigma Planning Corp lifted its position in shares of iShares Copper and Metals Mining ETF by 6.1% during the 1st quarter. Sigma Planning Corp now owns 12,281 shares of the company’s stock valued at $584,000 after acquiring an additional 709 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of iShares Copper and Metals Mining ETF by 147.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock worth $59,000 after acquiring an additional 794 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of iShares Copper and Metals Mining ETF by 46.1% during the 4th quarter. Royal Bank of Canada now owns 6,129 shares of the company’s stock worth $271,000 after acquiring an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Price Performance

Shares of NASDAQ:ICOP traded up $1.31 during mid-day trading on Monday, reaching $54.88. 216,995 shares of the company were exchanged, compared to its average volume of 211,475. iShares Copper and Metals Mining ETF has a 1 year low of $30.59 and a 1 year high of $60.08. The firm’s 50-day simple moving average is $50.87 and its 200 day simple moving average is $51.40. The firm has a market cap of $471.97 million, a price-to-earnings ratio of -19.53 and a beta of 0.92.

iShares Copper and Metals Mining ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a $0.2713 dividend. The ex-dividend date of this dividend was Monday, June 15th. iShares Copper and Metals Mining ETF’s dividend payout ratio (DPR) is currently -31.67%.

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.