iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Short Interest Down 71.8% in December

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 8,900 shares, a decline of 71.8% from the December 15th total of 31,600 shares. Based on an average daily trading volume, of 17,700 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ICOP. Glass Jacobson Investment Advisors llc raised its stake in iShares Copper and Metals Mining ETF by 80.6% during the second quarter. Glass Jacobson Investment Advisors llc now owns 1,806 shares of the company’s stock valued at $54,000 after purchasing an additional 806 shares in the last quarter. WT Wealth Management purchased a new position in iShares Copper and Metals Mining ETF in the third quarter worth about $225,000. Finally, Sunbelt Securities Inc. purchased a new stake in iShares Copper and Metals Mining ETF during the second quarter valued at approximately $289,000. 1.35% of the stock is owned by hedge funds and other institutional investors.

iShares Copper and Metals Mining ETF Stock Down 0.3 %

ICOP stock traded down $0.07 during trading on Monday, reaching $26.07. The company’s stock had a trading volume of 9,907 shares, compared to its average volume of 10,801. The company’s fifty day moving average is $27.55 and its 200-day moving average is $28.92. The company has a market capitalization of $32.59 million, a P/E ratio of -9.28 and a beta of 1.04. iShares Copper and Metals Mining ETF has a 1 year low of $23.31 and a 1 year high of $35.41.

iShares Copper and Metals Mining ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were given a dividend of $0.4218 per share. The ex-dividend date of this dividend was Tuesday, December 17th. iShares Copper and Metals Mining ETF’s dividend payout ratio is currently -16.73%.

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.