Global X Copper Miners ETF Sees Significant Week-Over-Week Outflow

In the latest ETF Channel analysis, the Global X Copper Miners ETF (Symbol: COPX) has experienced notable changes in shares outstanding. Specifically, the ETF has seen an outflow of approximately $172.9 million, marking a week-over-week decrease of 7.4%, from 64,629,374 to 59,869,374 shares. This trend highlights shifts in investor sentiment regarding copper mining investments.

Among the key holdings within COPX, several companies saw positive movement in today’s trading. Freeport-McMoRan Copper & Gold (Symbol: FCX) rose about 2.9%, while Hudbay Minerals Inc. (Symbol: HBM) increased by 1.7%. Additionally, Teck Resources Ltd (Symbol: TECK) posted a gain of approximately 2.3%. For a full breakdown of the ETF’s holdings, visit the COPX Holdings page.

The chart below illustrates the one-year price performance of COPX in relation to its 200-day moving average:

Analyzing the chart, COPX’s 52-week low stands at $30.77, while its high reaches $52.90. The last trading price recorded was $37.12. This positioning against the 200-day moving average is a useful technical analysis technique that investors may consider for decision-making.

Exchange-traded funds (ETFs) function similarly to stocks, yet investors buy and sell “units” instead of “shares.” These units are traded like stocks and can be created or destroyed in response to market demand. Each week, we evaluate the week-over-week changes in shares outstanding to identify ETFs with significant inflows or outflows—indicative of investor behavior. Newly created units necessitate the purchase of the underlying holdings, while unit destruction entails selling off those holdings, potentially affecting the individual assets within the ETFs.

Click here to discover which 9 other ETFs have noticed significant outflows »

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.