Global X Copper Miners ETF (NYSEARCA:COPX) Shares Gap Down – Should You Sell?

Global X Copper Miners ETF (NYSEARCA:COPX) shares gapped down prior to trading on Thursday . The stock had previously closed at $95.27, but opened at $89.66. Global X Copper Miners ETF shares last traded at $88.75, with a volume of 1,190,847 shares trading hands.

Global X Copper Miners ETF Trading Down 7.1%

The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 18.04 and a beta of 1.10. The stock has a 50-day simple moving average of $84.12 and a 200-day simple moving average of $83.17.

Institutional Investors Weigh In On Global X Copper Miners ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Groupe la Francaise grew its stake in Global X Copper Miners ETF by 67.4% in the second quarter. Groupe la Francaise now owns 385 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Modern Wealth Management LLC grew its position in shares of Global X Copper Miners ETF by 3.9% in the 1st quarter. Modern Wealth Management LLC now owns 4,690 shares of the company’s stock worth $367,000 after acquiring an additional 177 shares in the last quarter. AlphaCore Capital LLC increased its holdings in shares of Global X Copper Miners ETF by 18.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,288 shares of the company’s stock valued at $95,000 after acquiring an additional 200 shares during the last quarter. Tactive Advisors LLC raised its position in shares of Global X Copper Miners ETF by 1.0% during the 2nd quarter. Tactive Advisors LLC now owns 24,695 shares of the company’s stock valued at $1,901,000 after acquiring an additional 245 shares in the last quarter. Finally, Hollencrest Capital Management lifted its stake in Global X Copper Miners ETF by 83.4% during the first quarter. Hollencrest Capital Management now owns 609 shares of the company’s stock worth $46,000 after purchasing an additional 277 shares during the last quarter.

About Global X Copper Miners ETF

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.