Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Expands By 40.3%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 22,300 shares, an increase of 40.3% from the February 13th total of 15,900 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,200 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ICOP. IFP Advisors Inc bought a new position in shares of iShares Copper and Metals Mining ETF in the fourth quarter valued at $38,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of iShares Copper and Metals Mining ETF during the fourth quarter valued at approximately $548,000. OLD Mission Capital LLC raised its holdings in shares of iShares Copper and Metals Mining ETF by 76.1% in the 4th quarter. OLD Mission Capital LLC now owns 72,199 shares of the company’s stock worth $1,843,000 after purchasing an additional 31,200 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at about $3,698,000. Institutional investors and hedge funds own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Price Performance

iShares Copper and Metals Mining ETF stock opened at $28.08 on Tuesday. The company has a market capitalization of $50.54 million, a P/E ratio of -9.99 and a beta of 1.04. The business has a 50 day moving average of $26.49 and a 200-day moving average of $28.03. iShares Copper and Metals Mining ETF has a 1 year low of $24.65 and a 1 year high of $35.41.

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.