Global X Copper Miners ETF (NYSEARCA:COPX) Stock Price Down 1.5% – Here’s Why

Global X Copper Miners ETF (NYSEARCA:COPX)’s stock price was down 1.5% on Thursday. The stock traded as low as $82.58 and last traded at $83.40. Approximately 2,673,480 shares were traded during trading, a decline of 35% from the average daily volume of 4,128,743 shares. The stock had previously closed at $84.70.

Global X Copper Miners ETF Stock Performance

The stock has a market capitalization of $7.13 billion, a PE ratio of 18.04 and a beta of 1.10. The firm has a 50 day moving average of $87.35 and a 200-day moving average of $83.09.

Institutional Trading of Global X Copper Miners ETF

A number of hedge funds have recently made changes to their positions in the stock. Red Cedar Investment Management LLC purchased a new stake in shares of Global X Copper Miners ETF during the 4th quarter worth about $8,936,000. Wellington Management Group LLP bought a new stake in shares of Global X Copper Miners ETF in the 2nd quarter valued at approximately $8,481,000. JPMorgan Chase & Co. grew its stake in shares of Global X Copper Miners ETF by 16.6% in the 4th quarter. JPMorgan Chase & Co. now owns 5,384,456 shares of the company’s stock valued at $386,550,000 after buying an additional 766,399 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. increased its holdings in Global X Copper Miners ETF by 89.3% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 52,746 shares of the company’s stock worth $4,060,000 after buying an additional 24,875 shares during the last quarter. Finally, Beck Capital Management LLC increased its holdings in Global X Copper Miners ETF by 184.0% in the fourth quarter. Beck Capital Management LLC now owns 96,619 shares of the company’s stock worth $6,936,000 after buying an additional 62,603 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.