Sprott Copper Miners ETF (NASDAQ:COPP) Sees Large Drop in Short Interest

Sprott Copper Miners ETF (NASDAQ:COPP) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 25,855 shares, a decline of 57.1% from the August 15th total of 60,321 shares. Based on an average trading volume of 112,254 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the shares of the company are short sold.

Sprott Copper Miners ETF Stock Performance

NASDAQ COPP traded down $0.42 during mid-day trading on Tuesday, reaching $41.22. 70,405 shares of the stock were exchanged, compared to its average volume of 219,602. The business’s 50 day moving average is $41.24 and its 200-day moving average is $39.89. The company has a market capitalization of $288.50 million, a P/E ratio of 30.50 and a beta of 0.97. Sprott Copper Miners ETF has a 1 year low of $25.84 and a 1 year high of $47.46.

Hedge Funds Weigh In On Sprott Copper Miners ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COPP. Regency Capital Management Inc. DE purchased a new position in Sprott Copper Miners ETF in the 1st quarter valued at about $2,343,000. Corrado Advisors LLC boosted its stake in Sprott Copper Miners ETF by 2.7% during the fourth quarter. Corrado Advisors LLC now owns 44,751 shares of the company’s stock worth $1,558,000 after buying an additional 1,156 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Sprott Copper Miners ETF by 30.0% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 42,367 shares of the company’s stock valued at $1,513,000 after purchasing an additional 9,785 shares during the period. Carnegie Investment Counsel purchased a new stake in shares of Sprott Copper Miners ETF in the 1st quarter valued at approximately $1,489,000. Finally, Kestra Advisory Services LLC purchased a new position in Sprott Copper Miners ETF in the first quarter worth approximately $1,192,000.

Sprott Copper Miners ETF Company Profile

The Sprott Copper Miners ETF (COPP) is an exchange-traded fund that is based on the Nasdaq Sprott Copper Miners index. The fund is passively managed, tracking a modified market-cap weighted index comprised of companies in the mining, exploration, development, and production of copper. The fund invests in securities of issuers from all around the world. COPP was launched on Mar 5, 2024 and is issued by Sprott.