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

Global X Copper Miners ETF (NYSEARCA:COPX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $46.85, but opened at $45.68. Global X Copper Miners ETF shares last traded at $46.44, with a volume of 135,314 shares trading hands.

Global X Copper Miners ETF Stock Performance

The stock’s 50 day simple moving average is $43.12 and its 200 day simple moving average is $44.97. The firm has a market cap of $2.16 billion, a PE ratio of 11.68 and a beta of 1.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Global X Copper Miners ETF by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,476,842 shares of the company’s stock valued at $62,663,000 after acquiring an additional 22,247 shares during the last quarter. Wolf Hill Capital Management LP lifted its stake in Global X Copper Miners ETF by 92.6% in the first quarter. Wolf Hill Capital Management LP now owns 1,042,077 shares of the company’s stock worth $44,215,000 after purchasing an additional 501,120 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in Global X Copper Miners ETF during the first quarter valued at about $36,914,000. Thrivent Financial for Lutherans grew its stake in shares of Global X Copper Miners ETF by 0.5% during the second quarter. Thrivent Financial for Lutherans now owns 684,362 shares of the company’s stock valued at $30,872,000 after buying an additional 3,615 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of Global X Copper Miners ETF in the second quarter worth about $16,814,000.

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.