iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Up 39.7% in November

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 25,000 shares, an increase of 39.7% from the November 15th total of 17,900 shares. Based on an average daily trading volume, of 19,600 shares, the days-to-cover ratio is currently 1.3 days.

iShares Copper and Metals Mining ETF Stock Down 1.5 %

ICOP stock traded down $0.42 during midday trading on Friday, hitting $27.79. The company’s stock had a trading volume of 10,109 shares, compared to its average volume of 23,285. The stock has a market cap of $31.96 million, a price-to-earnings ratio of -9.86 and a beta of 1.04. The stock’s 50-day moving average price is $29.57 and its 200 day moving average price is $29.63. iShares Copper and Metals Mining ETF has a 1 year low of $23.31 and a 1 year high of $35.41.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bright Futures Wealth Management LLC. increased its position in shares of iShares Copper and Metals Mining ETF by 1.5% in the second quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock valued at $907,000 after acquiring an additional 476 shares during the period. Sunbelt Securities Inc. purchased a new position in iShares Copper and Metals Mining ETF in the 2nd quarter worth about $289,000. WT Wealth Management bought a new stake in shares of iShares Copper and Metals Mining ETF during the 3rd quarter valued at about $225,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in shares of iShares Copper and Metals Mining ETF by 80.6% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock worth $54,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 1.35% of the company’s stock.

iShares Copper and Metals Mining ETF Company Profile

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.