Global X Copper Miners ETF (NYSEARCA:COPX) Reaches New 1-Year High – Still a Buy?

Shares of Global X Copper Miners ETF (NYSEARCA:COPX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $69.14 and last traded at $69.1430, with a volume of 595484 shares traded. The stock had previously closed at $68.46.

Global X Copper Miners ETF Trading Up 0.7%

The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 18.04 and a beta of 1.16. The stock’s 50-day moving average is $62.15 and its 200-day moving average is $52.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rathbones Group PLC increased its holdings in Global X Copper Miners ETF by 1.4% in the 1st quarter. Rathbones Group PLC now owns 18,521 shares of the company’s stock worth $724,000 after purchasing an additional 260 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of Global X Copper Miners ETF by 3.3% during the second quarter. Scotia Capital Inc. now owns 11,266 shares of the company’s stock worth $507,000 after purchasing an additional 360 shares during the last quarter. Marathon Capital Management increased its stake in shares of Global X Copper Miners ETF by 6.6% in the second quarter. Marathon Capital Management now owns 6,594 shares of the company’s stock valued at $297,000 after buying an additional 410 shares during the period. Magnolia Capital Advisors LLC increased its stake in shares of Global X Copper Miners ETF by 5.2% in the third quarter. Magnolia Capital Advisors LLC now owns 8,916 shares of the company’s stock valued at $533,000 after buying an additional 439 shares during the period. Finally, Ipsen Advisor Group LLC raised its holdings in Global X Copper Miners ETF by 1.1% in the 3rd quarter. Ipsen Advisor Group LLC now owns 42,060 shares of the company’s stock valued at $2,516,000 after buying an additional 444 shares during the last quarter.

About Global X Copper Miners ETF

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.