Global X Copper Miners ETF (NYSEARCA:COPX) Sees Large Volume Increase – Here’s Why

Global X Copper Miners ETF (NYSEARCA:COPX) saw unusually-strong trading volume on Monday . Approximately 596,724 shares traded hands during mid-day trading, a decline of 55% from the previous session’s volume of 1,326,451 shares.The stock last traded at $44.95 and had previously closed at $44.23.

Global X Copper Miners ETF Stock Up 2.5 %

The stock’s fifty day simple moving average is $44.28 and its two-hundred day simple moving average is $45.00. The firm has a market cap of $2.14 billion, a PE ratio of 11.68 and a beta of 1.21.

Institutional Trading of Global X Copper Miners ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolf Hill Capital Management LP boosted its holdings in Global X Copper Miners ETF by 92.6% in the first quarter. Wolf Hill Capital Management LP now owns 1,042,077 shares of the company’s stock worth $44,215,000 after acquiring an additional 501,120 shares in the last quarter. Magnolia Capital Advisors LLC bought a new position in Global X Copper Miners ETF in the 2nd quarter worth about $16,814,000. Pinnbrook Capital Management LP bought a new position in Global X Copper Miners ETF in the 1st quarter worth about $13,829,000. Millennium Management LLC purchased a new stake in Global X Copper Miners ETF during the 2nd quarter valued at about $5,629,000. Finally, Cetera Investment Advisers increased its stake in Global X Copper Miners ETF by 304.0% during the 2nd quarter. Cetera Investment Advisers now owns 103,491 shares of the company’s stock valued at $4,669,000 after purchasing an additional 77,872 shares in the last quarter.

About Global X Copper Miners ETF

Global X Copper Miners ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Copper Miners Index. The Solactive Global Copper Miners Index is designed to reflect the performance of the copper mining industry. It is comprised of common stocks, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) of selected companies globally, which are engaged in some aspect of the copper mining industry such as copper mining, refining or exploration.