iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Update

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 34,500 shares, an increase of 54.7% from the February 28th total of 22,300 shares. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ICOP. OLD Mission Capital LLC grew its position 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 valued at $1,843,000 after buying an additional 31,200 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in iShares Copper and Metals Mining ETF in the fourth quarter valued at approximately $3,698,000. IFP Advisors Inc acquired a new stake in iShares Copper and Metals Mining ETF during the 4th quarter valued at approximately $38,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $548,000. 1.35% of the stock is owned by institutional investors.

iShares Copper and Metals Mining ETF Stock Down 2.7 %

Shares of ICOP stock traded down $0.74 during trading hours on Friday, hitting $26.52. 9,256 shares of the company’s stock traded hands, compared to its average volume of 27,555. The stock has a market cap of $47.74 million, a PE ratio of -9.44 and a beta of 1.04. The stock’s 50 day simple moving average is $26.74 and its 200 day simple moving average is $28.04. iShares Copper and Metals Mining ETF has a 12 month low of $24.65 and a 12 month 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.