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

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 8,900 shares, a decline of 71.8% from the December 31st total of 31,600 shares. Based on an average daily trading volume, of 17,700 shares, the short-interest ratio is currently 0.5 days.

iShares Copper and Metals Mining ETF Stock Performance

NASDAQ ICOP traded up $0.26 during mid-day trading on Wednesday, reaching $25.84. 8,494 shares of the stock were exchanged, compared to its average volume of 42,227. The stock has a market capitalization of $46.51 million, a PE ratio of -9.20 and a beta of 1.04. iShares Copper and Metals Mining ETF has a 1-year low of $23.31 and a 1-year high of $35.41. The business’s fifty day simple moving average is $26.98 and its 200 day simple moving average is $28.53.

iShares Copper and Metals Mining ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.4218 per share. The ex-dividend date was Tuesday, December 17th. iShares Copper and Metals Mining ETF’s dividend payout ratio is presently -16.73%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Several institutional investors have recently added to or reduced their stakes in the business. WT Wealth Management acquired a new stake in iShares Copper and Metals Mining ETF in the 3rd quarter worth about $225,000. Sunbelt Securities Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF during the 2nd quarter valued at about $289,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at about $548,000. 1.35% of the stock is currently owned by institutional investors and hedge funds.

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.