iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Growth in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 24,700 shares, an increase of 187.2% from the October 15th total of 8,600 shares. Based on an average trading volume of 21,600 shares, the short-interest ratio is presently 1.1 days.

Institutional Trading of iShares Copper and Metals Mining ETF

A number of hedge funds have recently made changes to their positions in the stock. Bright Futures Wealth Management LLC. purchased a new stake in iShares Copper and Metals Mining ETF during the first quarter valued at about $972,000. Sunbelt Securities Inc. purchased a new position in shares of iShares Copper and Metals Mining ETF during the 2nd quarter valued at about $289,000. WT Wealth Management purchased a new position in shares of iShares Copper and Metals Mining ETF during the 3rd quarter valued at about $225,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in iShares Copper and Metals Mining ETF by 80.6% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock worth $54,000 after buying an additional 806 shares during the last quarter. 1.35% of the stock is owned by institutional investors.

iShares Copper and Metals Mining ETF Price Performance

ICOP stock opened at $27.67 on Friday. The firm has a 50 day simple moving average of $30.03 and a two-hundred day simple moving average of $30.20. The stock has a market cap of $31.82 million, a PE ratio of -9.83 and a beta of 1.04. iShares Copper and Metals Mining ETF has a one year low of $22.61 and a one year high of $35.41.

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.