CoreCommodity Natural Resources ETF (NASDAQ:CCNR) Hits New 52-Week High – Should You Buy?

CoreCommodity Natural Resources ETF (NASDAQ:CCNR)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $32.39 and last traded at $32.47, with a volume of 556 shares trading hands. The stock had previously closed at $31.75.

CoreCommodity Natural Resources ETF Stock Up 2.3%

The firm’s 50 day simple moving average is $30.63 and its two-hundred day simple moving average is $27.75. The stock has a market capitalization of $12.46 billion, a P/E ratio of 12.52 and a beta of 30.62.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CCNR. Jane Street Group LLC bought a new position in shares of CoreCommodity Natural Resources ETF in the second quarter worth $501,000. Goldman Sachs Group Inc. bought a new stake in CoreCommodity Natural Resources ETF during the first quarter valued at approximately $5,103,000. Finally, Joseph Group Capital Management purchased a new position in CoreCommodity Natural Resources ETF in the 2nd quarter worth approximately $11,920,000.

CoreCommodity Natural Resources ETF Company Profile

The ALPS CoreCommodity Natural Resources ETF (CCNR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund seeks to maximize real returns through an actively managed portfolio of companies from around the globe that are engaged in natural resources, which includes energy, agriculture, as well as base and precious metals and minerals.