Global X Copper Miners ETF (NYSEARCA:COPX) Hits New 1-Year High – Should You Buy?

Global X Copper Miners ETF (NYSEARCA:COPX)’s stock price hit a new 52-week high on Friday . The company traded as high as $70.89 and last traded at $71.0180, with a volume of 1036182 shares changing hands. The stock had previously closed at $69.15.

Global X Copper Miners ETF Stock Performance

The company’s 50-day moving average is $63.11 and its 200-day moving average is $53.60. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 18.04 and a beta of 1.16.

Institutional Trading of Global X Copper Miners ETF

Several hedge funds have recently modified their holdings of COPX. JPMorgan Chase & Co. grew its position in shares of Global X Copper Miners ETF by 507.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,618,057 shares of the company’s stock worth $276,206,000 after buying an additional 3,858,174 shares during the period. Bank of Nova Scotia bought a new position in Global X Copper Miners ETF in the third quarter valued at approximately $92,947,000. Bank of America Corp DE boosted its stake in Global X Copper Miners ETF by 120.2% in the third quarter. Bank of America Corp DE now owns 1,088,621 shares of the company’s stock valued at $65,110,000 after acquiring an additional 594,279 shares during the last quarter. Wealth High Governance Capital Ltda acquired a new stake in Global X Copper Miners ETF during the 3rd quarter worth $32,297,000. Finally, Merewether Investment Management LP bought a new stake in shares of Global X Copper Miners ETF during the 3rd quarter valued at $22,698,000.

Global X Copper Miners ETF Company Profile

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.