iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 201.5% in May

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 98,184 shares, a growth of 201.5% from the April 30th total of 32,567 shares. Based on an average daily trading volume, of 138,270 shares, the short-interest ratio is presently 0.7 days. Approximately 1.1% of the shares of the company are short sold.

iShares Copper and Metals Mining ETF Stock Performance

Shares of NASDAQ:ICOP traded up $0.13 on Friday, hitting $54.99. The stock had a trading volume of 71,581 shares, compared to its average volume of 272,452. iShares Copper and Metals Mining ETF has a twelve month low of $27.52 and a twelve month high of $60.08. The firm’s 50 day moving average price is $50.73 and its 200-day moving average price is $48.41. The company has a market capitalization of $472.91 million, a price-to-earnings ratio of -19.57 and a beta of 0.83.

Institutional Trading of iShares Copper and Metals Mining ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. bought a new stake in iShares Copper and Metals Mining ETF during the 1st quarter worth about $25,000. Fifth Third Bancorp bought a new stake in shares of iShares Copper and Metals Mining ETF in the 1st quarter valued at about $29,000. JFS Wealth Advisors LLC bought a new stake in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at about $27,000. HHM Wealth Advisors LLC bought a new stake in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at about $29,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of iShares Copper and Metals Mining ETF by 147.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock valued at $59,000 after acquiring an additional 794 shares during the last quarter. 1.35% of the stock is owned by institutional investors.

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.