iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Hits New 1-Year High – What’s Next?

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $60.17 and last traded at $59.75, with a volume of 38494 shares. The stock had previously closed at $59.34.

iShares Copper and Metals Mining ETF Stock Up 0.9%

The stock has a market cap of $515.14 million, a PE ratio of -21.32 and a beta of 0.92. The stock’s fifty day moving average price is $51.30 and its 200 day moving average price is $51.49.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, June 18th. Shareholders 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%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ICOP. LPL Financial LLC boosted its holdings in iShares Copper and Metals Mining ETF by 1,008.5% in the fourth quarter. LPL Financial LLC now owns 94,257 shares of the company’s stock worth $4,177,000 after purchasing an additional 85,754 shares during the last quarter. Jane Street Group LLC raised its stake in iShares Copper and Metals Mining ETF by 252.8% during the 4th quarter. Jane Street Group LLC now owns 79,423 shares of the company’s stock valued at $3,519,000 after buying an additional 56,910 shares during the last quarter. Citadel Advisors LLC raised its stake in iShares Copper and Metals Mining ETF by 280.4% during the 3rd quarter. Citadel Advisors LLC now owns 39,995 shares of the company’s stock valued at $1,505,000 after buying an additional 29,480 shares during the last quarter. Marshall Wace LLP purchased a new stake in iShares Copper and Metals Mining ETF during the 4th quarter valued at $1,240,000. Finally, Kera Capital Partners Inc. bought a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at $1,083,000. 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.