iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 344.4% in August

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 183,067 shares, an increase of 344.4% from the August 15th total of 41,197 shares. Based on an average daily volume of 176,256 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% of the company’s stock are short sold.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. W.G. Shaheen & Associates DBA Whitney & Co raised its position in iShares Copper and Metals Mining ETF by 3.6% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 167,003 shares of the company’s stock valued at $7,946,000 after buying an additional 5,765 shares during the last quarter. LPL Financial LLC lifted its stake in iShares Copper and Metals Mining ETF by 1,008.5% during the 4th quarter. LPL Financial LLC now owns 94,257 shares of the company’s stock valued at $4,177,000 after acquiring an additional 85,754 shares in the last quarter. Jane Street Group LLC boosted its holdings 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 worth $3,519,000 after acquiring an additional 56,910 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of iShares Copper and Metals Mining ETF by 280.4% in the 3rd quarter. Citadel Advisors LLC now owns 39,995 shares of the company’s stock worth $1,505,000 after acquiring an additional 29,480 shares in the last quarter. Finally, Kera Capital Partners Inc. raised its holdings in shares of iShares Copper and Metals Mining ETF by 54.8% in the first quarter. Kera Capital Partners Inc. now owns 37,840 shares of the company’s stock valued at $1,800,000 after purchasing an additional 13,392 shares during the last quarter. 1.35% of the stock is owned by institutional investors.

iShares Copper and Metals Mining ETF Stock Up 0.8%

ICOP stock traded up $0.42 during midday trading on Friday, reaching $55.90. 47,627 shares of the company’s stock traded hands, compared to its average volume of 205,938. The company has a market cap of $480.70 million, a price-to-earnings ratio of -19.89 and a beta of 0.95. The firm’s fifty day moving average price is $53.25 and its 200-day moving average price is $52.01. iShares Copper and Metals Mining ETF has a 52 week low of $33.90 and a 52 week high of $60.93.

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.