iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 71.8% in December

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

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc increased its position in shares of iShares Copper and Metals Mining ETF by 80.6% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock valued at $54,000 after acquiring an additional 806 shares during the period. WT Wealth Management purchased a new stake in iShares Copper and Metals Mining ETF during the 3rd quarter valued at about $225,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF in the second quarter valued at about $289,000. 1.35% of the stock is currently owned by institutional investors and hedge funds.

iShares Copper and Metals Mining ETF Stock Down 0.3 %

Shares of ICOP traded down $0.07 during mid-day trading on Monday, hitting $26.07. 9,907 shares of the company traded hands, compared to its average volume of 10,801. The company has a market capitalization of $32.59 million, a PE ratio of -9.28 and a beta of 1.04. The business has a 50 day moving average of $27.55 and a 200 day moving average of $28.92. iShares Copper and Metals Mining ETF has a 1-year low of $23.31 and a 1-year high of $35.41.

iShares Copper and Metals Mining ETF Announces Dividend

The business 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 of this dividend was Tuesday, December 17th. iShares Copper and Metals Mining ETF’s payout ratio is -16.73%.

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.