iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 40.3% in February

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 22,300 shares, an increase of 40.3% from the February 13th total of 15,900 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,200 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc purchased a new stake in shares of iShares Copper and Metals Mining ETF in the fourth quarter worth approximately $38,000. U.S. Capital Wealth Advisors LLC bought a new position in iShares Copper and Metals Mining ETF in the 4th quarter worth approximately $548,000. OLD Mission Capital LLC raised its position in shares of iShares Copper and Metals Mining ETF by 76.1% during the fourth quarter. OLD Mission Capital LLC now owns 72,199 shares of the company’s stock valued at $1,843,000 after buying an additional 31,200 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in iShares Copper and Metals Mining ETF during the fourth quarter worth $3,698,000. 1.35% of the stock is owned by institutional investors.

iShares Copper and Metals Mining ETF Price Performance

Shares of ICOP traded up $0.61 during mid-day trading on Monday, hitting $28.08. The company’s stock had a trading volume of 12,622 shares, compared to its average volume of 27,180. The stock has a market capitalization of $50.54 million, a price-to-earnings ratio of -9.99 and a beta of 1.04. iShares Copper and Metals Mining ETF has a fifty-two week low of $24.65 and a fifty-two week high of $35.41. The firm has a 50-day moving average price of $26.45 and a 200 day moving average price of $28.04.

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.