United States Copper Index Fund (NYSEARCA:CPER) Sets New 52-Week High – Time to Buy?

United States Copper Index Fund (NYSEARCA:CPER)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $37.44 and last traded at $37.0830, with a volume of 53932 shares. The stock had previously closed at $36.88.

United States Copper Index Fund Price Performance

The firm has a fifty day simple moving average of $33.06 and a two-hundred day simple moving average of $31.35. The firm has a market capitalization of $505.17 million, a P/E ratio of 3.31 and a beta of 0.52.

Hedge Funds Weigh In On United States Copper Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in shares of United States Copper Index Fund by 23.9% in the first quarter. Jane Street Group LLC now owns 70,596 shares of the company’s stock worth $2,231,000 after purchasing an additional 13,605 shares in the last quarter. Farther Finance Advisors LLC grew its stake in United States Copper Index Fund by 400.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,000 shares of the company’s stock valued at $32,000 after buying an additional 800 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in United States Copper Index Fund during the 2nd quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of United States Copper Index Fund by 67.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,200 shares of the company’s stock worth $1,652,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Tcfg Wealth Management LLC lifted its position in shares of United States Copper Index Fund by 35.0% during the second quarter. Tcfg Wealth Management LLC now owns 41,066 shares of the company’s stock worth $1,299,000 after acquiring an additional 10,640 shares in the last quarter.

United States Copper Index Fund Company Profile

The United States Copper Index Fund, LP (CPER) is an exchange-traded fund that is based on the SummerHaven Copper index. The fund tracks a rules-based index of copper futures contracts selected based on the shape of the copper futures curve. CPER was launched on Nov 15, 2011 and is managed by US Commodity Funds.