iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 859.2% in December

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 229,638 shares, an increase of 859.2% from the December 15th total of 23,940 shares. Based on an average trading volume of 146,143 shares, the short-interest ratio is presently 1.6 days. Approximately 5.3% of the shares of the stock are short sold. Approximately 5.3% of the shares of the stock are short sold. Based on an average trading volume of 146,143 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of iShares Copper and Metals Mining ETF by 1.6% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 154,203 shares of the company’s stock worth $4,611,000 after buying an additional 2,451 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in iShares Copper and Metals Mining ETF by 40.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 784,271 shares of the company’s stock valued at $23,450,000 after acquiring an additional 227,272 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in iShares Copper and Metals Mining ETF during the second quarter worth about $518,000. Citadel Advisors LLC lifted its holdings in shares of iShares Copper and Metals Mining ETF by 280.4% in the third quarter. Citadel Advisors LLC now owns 39,995 shares of the company’s stock valued at $1,505,000 after purchasing an additional 29,480 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of iShares Copper and Metals Mining ETF in the second quarter valued at approximately $1,017,000. 1.35% of the stock is owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Stock Up 2.7%

ICOP traded up $1.30 during trading on Monday, reaching $48.84. The company’s stock had a trading volume of 627,855 shares, compared to its average volume of 313,775. The company has a market cap of $212.45 million, a price-to-earnings ratio of -17.38 and a beta of 0.85. The firm has a fifty day simple moving average of $41.78 and a two-hundred day simple moving average of $36.43. iShares Copper and Metals Mining ETF has a 1 year low of $21.10 and a 1 year high of $48.99.

iShares Copper and Metals Mining ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, January 5th. Investors of record on Tuesday, December 30th were paid a dividend of $0.0295 per share. The ex-dividend date was Tuesday, December 30th. This represents a dividend yield of 13.0%. iShares Copper and Metals Mining ETF’s payout ratio is presently -32.74%.

iShares Copper and Metals Mining ETF Company Profile

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.