iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Sees Significant Growth in Short Interest

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 34,500 shares, an increase of 54.7% from the February 28th total of 22,300 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On iShares Copper and Metals Mining ETF

A number of institutional investors have recently made changes to their positions in ICOP. U.S. Capital Wealth Advisors LLC acquired a new stake in iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $548,000. IFP Advisors Inc bought a new position in iShares Copper and Metals Mining ETF during the 4th quarter worth $38,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in iShares Copper and Metals Mining ETF during the 4th quarter worth $3,698,000. Finally, OLD Mission Capital LLC lifted its holdings 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 worth $1,843,000 after buying an additional 31,200 shares in the last quarter. Institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Stock Performance

Shares of ICOP stock opened at $25.90 on Tuesday. iShares Copper and Metals Mining ETF has a 52 week low of $24.65 and a 52 week high of $35.41. The company has a market capitalization of $46.62 million, a price-to-earnings ratio of -9.22 and a beta of 1.04. The company has a 50-day simple moving average of $26.73 and a 200 day simple moving average of $28.04.

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.