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

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

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

A number of institutional investors have recently bought and sold shares of ICOP. WT Wealth Management acquired a new stake in shares of iShares Copper and Metals Mining ETF in the third quarter valued at approximately $225,000. Sunbelt Securities Inc. bought a new position in shares of iShares Copper and Metals Mining ETF in the second quarter valued at about $289,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth about $548,000. Institutional investors and hedge funds own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Trading Down 2.4 %

Shares of ICOP traded down $0.62 during midday trading on Tuesday, reaching $25.58. The stock had a trading volume of 16,383 shares, compared to its average volume of 44,217. The firm has a market cap of $46.04 million, a PE ratio of -9.10 and a beta of 1.04. The firm has a 50 day simple moving average of $27.03 and a 200-day simple moving average of $28.55. iShares Copper and Metals Mining ETF has a one year low of $23.31 and a one year high of $35.41.

iShares Copper and Metals Mining ETF Announces Dividend

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

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.