iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Update

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 32,567 shares, a decline of 66.2% from the April 15th total of 96,378 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 140,426 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dai ichi Life International Holdings LLC acquired a new position in iShares Copper and Metals Mining ETF during the 1st quarter worth about $212,000. Cetera Investment Advisers acquired a new position in iShares Copper and Metals Mining ETF during the 1st quarter worth about $365,000. Kera Capital Partners Inc. lifted its holdings in iShares Copper and Metals Mining ETF by 54.8% during the 1st quarter. Kera Capital Partners Inc. now owns 37,840 shares of the company’s stock worth $1,800,000 after buying an additional 13,392 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in iShares Copper and Metals Mining ETF by 3.6% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 167,003 shares of the company’s stock worth $7,946,000 after buying an additional 5,765 shares during the period. Finally, Sigma Planning Corp lifted its holdings in 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 worth $584,000 after buying an additional 709 shares during the period. 1.35% of the stock is owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Stock Down 6.5%

ICOP traded down $3.60 during midday trading on Friday, hitting $51.88. 182,938 shares of the company were exchanged, compared to its average volume of 287,716. The firm has a market capitalization of $446.17 million, a P/E ratio of -18.46 and a beta of 0.83. iShares Copper and Metals Mining ETF has a 1-year low of $26.94 and a 1-year high of $60.08. The firm’s 50 day moving average price is $49.95 and its 200-day moving average price is $47.35.

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.