United States Copper Index Fund (NYSEARCA:CPER) Hits New 1-Year High – Should You Buy?

United States Copper Index Fund (NYSEARCA:CPER) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.00 and last traded at $41.0960, with a volume of 123953 shares. The stock had previously closed at $39.95.

United States Copper Index Fund Price Performance

The stock has a market capitalization of $795.13 million, a PE ratio of 3.31 and a beta of 0.49. The company has a 50 day moving average price of $39.11 and a 200-day moving average price of $37.66.

Institutional Investors Weigh In On United States Copper Index Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of United States Copper Index Fund by 1,902.7% during the first quarter. Bank of America Corp DE now owns 145,800 shares of the company’s stock valued at $5,020,000 after purchasing an additional 138,520 shares in the last quarter. LPL Financial LLC increased its holdings in United States Copper Index Fund by 111.6% in the 4th quarter. LPL Financial LLC now owns 261,506 shares of the company’s stock worth $9,142,000 after buying an additional 137,916 shares in the last quarter. Empowered Funds LLC bought a new stake in United States Copper Index Fund in the 4th quarter worth about $3,491,000. Ameriprise Financial Inc. raised its position in United States Copper Index Fund by 259.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 101,677 shares of the company’s stock worth $3,051,000 after buying an additional 73,383 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in United States Copper Index Fund in the 2nd quarter worth about $2,483,000.

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.