iShares Copper and Metals Mining ETF (NASDAQ:ICOP) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

iShares Copper and Metals Mining ETF (NASDAQ:ICOP) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.04 and traded as low as $28.38. iShares Copper and Metals Mining ETF shares last traded at $28.52, with a volume of 12,762 shares traded.

iShares Copper and Metals Mining ETF Trading Down 0.3 %

The stock has a market cap of $32.80 million, a PE ratio of -10.15 and a beta of 1.04. The firm’s 50-day moving average price is $30.19 and its two-hundred day moving average price is $30.04.

Institutional Trading of iShares Copper and Metals Mining ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WT Wealth Management bought a new position in shares of iShares Copper and Metals Mining ETF in the 3rd quarter worth $225,000. Sunbelt Securities Inc. bought a new position in iShares Copper and Metals Mining ETF in the second quarter worth about $289,000. Glass Jacobson Investment Advisors llc lifted its position 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 valued at $54,000 after buying an additional 806 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. boosted its holdings in shares of iShares Copper and Metals Mining ETF by 1.5% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 32,856 shares of the company’s stock valued at $907,000 after buying an additional 476 shares in the last quarter. Institutional investors own 1.35% of the company’s stock.

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.