Global X Copper Miners ETF (NYSEARCA:COPX) Sets New 12-Month High – Here’s Why

Global X Copper Miners ETF (NYSEARCA:COPX)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $74.07 and last traded at $73.75, with a volume of 1125587 shares trading hands. The stock had previously closed at $73.94.

Global X Copper Miners ETF Price Performance

The business’s 50-day simple moving average is $63.72 and its 200-day simple moving average is $54.24. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 18.04 and a beta of 1.16.

Hedge Funds Weigh In On Global X Copper Miners ETF

Several hedge funds have recently bought and sold shares of COPX. JPMorgan Chase & Co. raised its holdings in shares of Global X Copper Miners ETF by 507.7% in the third quarter. JPMorgan Chase & Co. now owns 4,618,057 shares of the company’s stock worth $276,206,000 after acquiring an additional 3,858,174 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Global X Copper Miners ETF by 9.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,193,338 shares of the company’s stock worth $188,323,000 after purchasing an additional 372,362 shares in the last quarter. Bank of Nova Scotia acquired a new position in Global X Copper Miners ETF in the 3rd quarter valued at about $92,947,000. Invesco Ltd. lifted its holdings in Global X Copper Miners ETF by 3.1% in the 2nd quarter. Invesco Ltd. now owns 1,312,149 shares of the company’s stock valued at $59,047,000 after purchasing an additional 39,987 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Global X Copper Miners ETF by 120.2% during the 3rd quarter. Bank of America Corp DE now owns 1,088,621 shares of the company’s stock worth $65,110,000 after purchasing an additional 594,279 shares during the last quarter.

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.