Short Interest in iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Decreases By 55.2%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 29,555 shares, a decrease of 55.2% from the February 26th total of 65,968 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 267,192 shares, the days-to-cover ratio is presently 0.1 days.

iShares Copper and Metals Mining ETF Trading Down 4.8%

Shares of ICOP traded down $2.25 during trading hours on Thursday, reaching $44.31. The stock had a trading volume of 109,749 shares, compared to its average volume of 381,484. iShares Copper and Metals Mining ETF has a 12 month low of $21.10 and a 12 month high of $60.08. The company has a market capitalization of $347.83 million, a price-to-earnings ratio of -15.77 and a beta of 0.85. The firm has a 50-day simple moving average of $51.42 and a 200 day simple moving average of $43.87.

iShares Copper and Metals Mining ETF Cuts Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 30th were issued a dividend of $0.0295 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a yield of 13.0%. iShares Copper and Metals Mining ETF’s payout ratio is presently -32.74%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

Large investors have recently modified their holdings of the company. JFS Wealth Advisors LLC purchased a new stake in shares of iShares Copper and Metals Mining ETF during the 4th quarter valued at about $27,000. HHM Wealth Advisors LLC purchased a new position in iShares Copper and Metals Mining ETF during the fourth quarter valued at $29,000. Steward Partners Investment Advisory LLC grew its stake in shares of iShares Copper and Metals Mining ETF by 147.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,334 shares of the company’s stock valued at $59,000 after acquiring an additional 794 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of iShares Copper and Metals Mining ETF in the third quarter worth $76,000. Finally, Simplex Trading LLC bought a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at about $169,000. 1.35% of the stock is owned by hedge funds and other institutional investors.

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.