iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 26.4% in December

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 31,600 shares, a growth of 26.4% from the November 30th total of 25,000 shares. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is presently 1.6 days.

iShares Copper and Metals Mining ETF Stock Performance

ICOP traded down $0.40 during midday trading on Friday, hitting $25.84. The stock had a trading volume of 10,474 shares, compared to its average volume of 23,130. iShares Copper and Metals Mining ETF has a 1 year low of $23.31 and a 1 year high of $35.41. The business has a fifty day moving average of $28.51 and a 200 day moving average of $29.22. The company has a market cap of $29.72 million, a P/E ratio of -9.20 and a beta of 1.04.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were paid a $0.4218 dividend. The ex-dividend date was Tuesday, December 17th. iShares Copper and Metals Mining ETF’s dividend payout ratio (DPR) is -16.73%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

A number of large investors have recently added to or reduced their stakes in ICOP. WT Wealth Management purchased a new stake in iShares Copper and Metals Mining ETF during the third quarter valued at about $225,000. Sunbelt Securities Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the 2nd quarter valued at about $289,000. Glass Jacobson Investment Advisors llc grew its position in iShares Copper and Metals Mining ETF by 80.6% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock worth $54,000 after acquiring an additional 806 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. increased its stake in iShares Copper and Metals Mining ETF by 1.5% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock worth $907,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 1.35% of the company’s stock.

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.