iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 14.8% in March

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 29,400 shares, a decrease of 14.8% from the March 15th total of 34,500 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 24,400 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Institutional investors have recently made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC acquired a new stake in iShares Copper and Metals Mining ETF during the fourth quarter worth approximately $548,000. OLD Mission Capital LLC increased its holdings in 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 purchasing an additional 31,200 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of iShares Copper and Metals Mining ETF in the fourth quarter valued at about $38,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of iShares Copper and Metals Mining ETF during the fourth quarter valued at approximately $3,698,000. 1.35% of the stock is owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Stock Performance

Shares of ICOP stock opened at $25.23 on Monday. The stock has a fifty day moving average price of $25.97 and a 200 day moving average price of $27.32. iShares Copper and Metals Mining ETF has a 1 year low of $21.10 and a 1 year high of $35.41. The stock has a market cap of $45.41 million, a PE ratio of -8.98 and a beta of 1.04.

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.