Global X Copper Miners ETF (NYSEARCA:COPX) Shares Gap Down – Time to Sell?

Global X Copper Miners ETF (NYSEARCA:COPX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $95.27, but opened at $89.66. Global X Copper Miners ETF shares last traded at $88.75, with a volume of 1,190,847 shares changing hands.

Global X Copper Miners ETF Price Performance

The stock’s fifty day simple moving average is $84.12 and its 200-day simple moving average is $83.17. The stock has a market cap of $8.21 billion, a P/E ratio of 18.04 and a beta of 1.10.

Institutional Investors Weigh In On Global X Copper Miners ETF

Several large investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC purchased a new position in shares of Global X Copper Miners ETF in the fourth quarter worth approximately $1,586,000. PCG Wealth Advisors LLC grew its position in Global X Copper Miners ETF by 63.2% during the 4th quarter. PCG Wealth Advisors LLC now owns 108,278 shares of the company’s stock worth $7,773,000 after purchasing an additional 41,947 shares in the last quarter. Red Cedar Investment Management LLC purchased a new stake in shares of Global X Copper Miners ETF in the fourth quarter valued at $8,936,000. JPMorgan Chase & Co. boosted its position in shares of Global X Copper Miners ETF by 16.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,384,456 shares of the company’s stock worth $386,550,000 after buying an additional 766,399 shares during the period. Finally, Beck Capital Management LLC raised its position in Global X Copper Miners ETF by 184.0% during the fourth quarter. Beck Capital Management LLC now owns 96,619 shares of the company’s stock valued at $6,936,000 after buying an additional 62,603 shares during the period.

Global X Copper Miners ETF Company Profile

Global X Copper Miners ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Copper Miners Index. The Solactive Global Copper Miners Index is designed to reflect the performance of the copper mining industry. It is comprised of common stocks, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) of selected companies globally, which are engaged in some aspect of the copper mining industry such as copper mining, refining or exploration.