Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Expands By 39.7%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 25,000 shares, a growth of 39.7% from the November 15th total of 17,900 shares. Based on an average daily trading volume, of 19,600 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bright Futures Wealth Management LLC. increased its holdings in iShares Copper and Metals Mining ETF by 1.5% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock worth $907,000 after buying an additional 476 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of iShares Copper and Metals Mining ETF in the second quarter worth $289,000. WT Wealth Management acquired a new stake in shares of iShares Copper and Metals Mining ETF in the third quarter worth $225,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in shares of iShares Copper and Metals Mining ETF by 80.6% during the second quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock worth $54,000 after purchasing an additional 806 shares during the last quarter. 1.35% of the stock is currently owned by hedge funds and other institutional investors.

iShares Copper and Metals Mining ETF Stock Performance

ICOP stock traded down $0.39 during midday trading on Friday, reaching $27.82. The stock had a trading volume of 11,346 shares, compared to its average volume of 23,290. The firm has a fifty day simple moving average of $29.49 and a two-hundred day simple moving average of $29.57. The stock has a market cap of $31.99 million, a PE ratio of -9.90 and a beta of 1.04. iShares Copper and Metals Mining ETF has a 52-week low of $23.31 and a 52-week high of $35.41.

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.