Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Declines By 56.1%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 26,327 shares, a drop of 56.1% from the July 15th total of 60,008 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 62,282 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several hedge funds have recently made changes to their positions in the stock. Evolution Wealth Management Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the 1st quarter worth about $25,000. Fifth Third Bancorp bought a new position in iShares Copper and Metals Mining ETF in the 1st quarter worth about $29,000. Steward Partners Investment Advisory LLC grew its holdings in iShares Copper and Metals Mining ETF by 147.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock valued at $59,000 after buying an additional 794 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in iShares Copper and Metals Mining ETF during the 3rd quarter valued at about $76,000. Finally, Center for Financial Planning Inc. bought a new stake in shares of iShares Copper and Metals Mining ETF during the first quarter valued at about $126,000. 1.35% of the stock is currently owned by hedge funds and other institutional investors.

iShares Copper and Metals Mining ETF Stock Performance

iShares Copper and Metals Mining ETF stock traded down $0.19 during mid-day trading on Friday, reaching $53.57. The company’s stock had a trading volume of 63,924 shares, compared to its average volume of 211,469. The firm’s fifty day moving average price is $50.87 and its two-hundred day moving average price is $51.41. iShares Copper and Metals Mining ETF has a 12-month low of $30.59 and a 12-month high of $60.08. The company has a market capitalization of $460.70 million, a P/E ratio of -19.06 and a beta of 0.92.

iShares Copper and Metals Mining ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a $0.2713 dividend. The ex-dividend date of this dividend was Monday, June 15th. iShares Copper and Metals Mining ETF’s dividend payout ratio (DPR) is presently -31.67%.

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.