iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 14.8% in March

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 29,400 shares, a decline of 14.8% from the March 15th total of 34,500 shares. Based on an average daily trading volume, of 24,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.6% of the company’s stock are short sold.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

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

iShares Copper and Metals Mining ETF Stock Performance

NASDAQ:ICOP opened at $25.26 on Tuesday. The company has a market capitalization of $46.73 million, a P/E ratio of -8.99 and a beta of 1.04. The stock’s 50 day moving average price is $25.93 and its 200 day moving average price is $27.27. iShares Copper and Metals Mining ETF has a 52 week low of $21.10 and a 52 week high of $35.41.

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.