iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Stock Cross Below 200 Day Moving Average – Here’s Why

iShares Copper and Metals Mining ETF (NASDAQ:ICOP)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.04 and traded as low as $28.38. iShares Copper and Metals Mining ETF shares last traded at $28.52, with a volume of 12,762 shares changing hands.

iShares Copper and Metals Mining ETF Stock Down 0.3 %

The firm has a market cap of $32.80 million, a PE ratio of -10.15 and a beta of 1.04. The business has a 50 day simple moving average of $30.19 and a two-hundred day simple moving average of $30.04.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ICOP. Bright Futures Wealth Management LLC. boosted its holdings in shares of iShares Copper and Metals Mining ETF by 1.5% in the second quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock valued at $907,000 after purchasing an additional 476 shares during the period. Sunbelt Securities Inc. bought a new stake in iShares Copper and Metals Mining ETF during the 2nd quarter valued at $289,000. WT Wealth Management purchased a new stake in shares of iShares Copper and Metals Mining ETF in the 3rd quarter worth $225,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of iShares Copper and Metals Mining ETF by 80.6% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock worth $54,000 after buying an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Company Profile

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.