iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Update

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 65,968 shares, a drop of 53.3% from the February 12th total of 141,322 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 194,054 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.8% of the company’s stock are short sold.

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 the company. JFS Wealth Advisors LLC bought a new stake in shares of iShares Copper and Metals Mining ETF in the 4th quarter valued at about $27,000. HHM Wealth Advisors LLC bought a new position in shares of iShares Copper and Metals Mining ETF during the 4th quarter worth approximately $29,000. Steward Partners Investment Advisory LLC raised 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 worth $59,000 after acquiring an additional 794 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the third quarter valued at approximately $76,000. Finally, Simplex Trading LLC purchased a new stake in iShares Copper and Metals Mining ETF during the fourth quarter valued at approximately $169,000. 1.35% of the stock is currently owned by institutional investors.

iShares Copper and Metals Mining ETF Trading Down 4.3%

Shares of ICOP traded down $2.11 during trading hours on Friday, hitting $46.59. The company had a trading volume of 272,364 shares, compared to its average volume of 406,318. The company has a market capitalization of $365.73 million, a PE ratio of -16.58 and a beta of 0.85. iShares Copper and Metals Mining ETF has a one year low of $21.10 and a one year high of $60.08. The company’s fifty day moving average price is $51.82 and its two-hundred day moving average price is $43.07.

iShares Copper and Metals Mining ETF Cuts Dividend

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

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.