iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Stock Price Down 2.3% – Time to Sell?

Posted by ABMN Staff on Nov 13th, 2024

iShares Copper and Metals Mining ETF (NASDAQ:ICOP – Get Free Report) were down 2.3% during mid-day trading on Tuesday . The company traded as low as $27.88 and last traded at $28.22. Approximately 30,579 shares changed hands during trading, an increase of 27% from the average daily volume of 24,095 shares. The stock had previously closed at $28.87.

iShares Copper and Metals Mining ETF Trading Down 2.3 %

The company has a market capitalization of $32.45 million, a P/E ratio of -10.04 and a beta of 1.04. The firm’s 50 day moving average price is $30.02 and its two-hundred day moving average price is $30.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ICOP. Sunbelt Securities Inc. acquired a new position in iShares Copper and Metals Mining ETF in the second quarter valued at approximately $289,000. WT Wealth Management bought a new stake in iShares Copper and Metals Mining ETF during the third quarter worth $225,000. Glass Jacobson Investment Advisors llc grew its holdings 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 worth $54,000 after buying an additional 806 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. grew its holdings in iShares Copper and Metals Mining ETF by 1.5% during the second quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock worth $907,000 after buying an additional 476 shares in the last quarter. Institutional investors own 1.35% of the company’s stock.

About iShares Copper and Metals Mining ETF

(Get Free Report)

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.