iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Stock Price Down 2.9%

Shares of iShares Copper and Metals Mining ETF (NASDAQ:ICOP) were down 2.9% during mid-day trading on Friday . The company traded as low as $26.34 and last traded at $26.37. Approximately 17,492 shares changed hands during trading, a decline of 30% from the average daily volume of 25,017 shares. The stock had previously closed at $27.15.

iShares Copper and Metals Mining ETF Trading Down 2.9 %

The company’s 50-day moving average is $29.20 and its 200 day moving average is $29.37. The firm has a market cap of $29.01 million, a PE ratio of -9.38 and a beta of 1.04.

iShares Copper and Metals Mining ETF Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bright Futures Wealth Management LLC. acquired a new stake in iShares Copper and Metals Mining ETF during the 1st quarter worth about $972,000. Glass Jacobson Investment Advisors llc boosted its holdings in shares of 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 purchasing an additional 806 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of iShares Copper and Metals Mining ETF during the second quarter worth approximately $289,000. Hedge funds and other 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.