United States Copper Index Fund (NYSEARCA:CPER) Trading Down 1.1% – Time to Sell?

United States Copper Index Fund (NYSEARCA:CPER) was down 1.1% on Tuesday . The company traded as low as $38.14 and last traded at $38.33. Approximately 443,183 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 983,146 shares. The stock had previously closed at $38.77.

United States Copper Index Fund Trading Up 2.6%

The stock has a market cap of $761.23 million, a PE ratio of 3.31 and a beta of 0.49. The firm has a fifty day simple moving average of $38.41 and a two-hundred day simple moving average of $36.95.

Hedge Funds Weigh In On United States Copper Index Fund

A number of institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC bought a new stake in shares of United States Copper Index Fund during the 4th quarter worth $237,000. Strategic Blueprint LLC increased its stake in United States Copper Index Fund by 2.6% in the fourth quarter. Strategic Blueprint LLC now owns 63,607 shares of the company’s stock valued at $2,224,000 after acquiring an additional 1,639 shares during the last quarter. Hoey Investments Inc. increased its stake in United States Copper Index Fund by 80.2% in the fourth quarter. Hoey Investments Inc. now owns 15,050 shares of the company’s stock valued at $526,000 after acquiring an additional 6,700 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in United States Copper Index Fund by 4.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 65,368 shares of the company’s stock valued at $2,282,000 after purchasing an additional 2,602 shares in the last quarter. Finally, Ruffer LLP purchased a new stake in United States Copper Index Fund during the fourth quarter valued at about $784,000.

About United States Copper Index Fund

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.