iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Shares Up 2.1% – Should You Buy?

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) traded up 2.1% on Monday . The stock traded as high as $27.66 and last traded at $27.66. 7,023 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 26,218 shares. The stock had previously closed at $27.09.

iShares Copper and Metals Mining ETF Trading Up 2.1%

The firm has a market capitalization of $52.55 million, a price-to-earnings ratio of -9.84 and a beta of 1.04. The firm has a 50 day moving average price of $25.97 and a two-hundred day moving average price of $26.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan purchased a new stake in iShares Copper and Metals Mining ETF during the first quarter worth approximately $14,426,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in iShares Copper and Metals Mining ETF during the 4th quarter worth $3,698,000. OLD Mission Capital LLC boosted its position in iShares Copper and Metals Mining ETF by 76.1% during the 4th quarter. OLD Mission Capital LLC now owns 72,199 shares of the company’s stock worth $1,843,000 after purchasing an additional 31,200 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in iShares Copper and Metals Mining ETF in the 4th quarter valued at $548,000. Finally, IFP Advisors Inc purchased a new position in iShares Copper and Metals Mining ETF in the fourth quarter valued at about $38,000. 1.35% of the stock is owned by institutional investors and hedge funds.

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.