Global X Copper Miners ETF (NYSEARCA:COPX) Reaches New 52-Week Low – What’s Next?

Global X Copper Miners ETF (NYSEARCA:COPX) hit a new 52-week low during trading on Thursday . The stock traded as low as $36.78 and last traded at $36.80, with a volume of 2034821 shares changing hands. The stock had previously closed at $39.10.

Global X Copper Miners ETF Price Performance

The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 15.18 and a beta of 1.23. The business has a fifty day moving average of $39.99 and a 200 day moving average of $41.74.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Global X Copper Miners ETF by 8.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 108,466 shares of the company’s stock valued at $4,141,000 after buying an additional 8,379 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Global X Copper Miners ETF in the fourth quarter valued at about $116,000. Pettinga Financial Advisors LLC increased its stake in shares of Global X Copper Miners ETF by 3.3% in the fourth quarter. Pettinga Financial Advisors LLC now owns 20,843 shares of the company’s stock worth $796,000 after purchasing an additional 673 shares during the period. FWL Investment Management LLC lifted its position in shares of Global X Copper Miners ETF by 13,775.0% during the 4th quarter. FWL Investment Management LLC now owns 2,220 shares of the company’s stock worth $85,000 after purchasing an additional 2,204 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Global X Copper Miners ETF by 585.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 139,134 shares of the company’s stock valued at $5,312,000 after purchasing an additional 118,827 shares during the period.

Global X Copper Miners ETF Company Profile

Global X Copper Miners ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Copper Miners Index. The Solactive Global Copper Miners Index is designed to reflect the performance of the copper mining industry. It is comprised of common stocks, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) of selected companies globally, which are engaged in some aspect of the copper mining industry such as copper mining, refining or exploration.