iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Trading Up 3.3%

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) shot up 3.3% during mid-day trading on Thursday . The company traded as high as $28.58 and last traded at $28.51. 14,984 shares changed hands during trading, a decline of 40% from the average session volume of 24,931 shares. The stock had previously closed at $27.60.

iShares Copper and Metals Mining ETF Stock Performance

The firm has a market cap of $31.56 million, a P/E ratio of -10.21 and a beta of 1.04. The firm’s fifty day moving average is $29.50 and its 200 day moving average is $28.93.

iShares Copper and Metals Mining ETF Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 11th were issued a dividend of $0.0544 per share. The ex-dividend date of this dividend was Tuesday, June 11th. iShares Copper and Metals Mining ETF’s dividend payout ratio is presently -21.35%.

Hedge Funds Weigh In On iShares Copper and Metals Mining ETF

A number of large investors have recently made changes to their positions in the company. Bright Futures Wealth Management LLC. acquired a new position in shares of iShares Copper and Metals Mining ETF in the first quarter valued at about $972,000. Glass Jacobson Investment Advisors llc boosted its holdings in 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 valued at $54,000 after purchasing an additional 806 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of iShares Copper and Metals Mining ETF during the 2nd quarter worth approximately $289,000. 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.