United States Copper Index Fund (NYSEARCA:CPER) Sees Significant Growth in Short Interest

United States Copper Index Fund (NYSEARCA:CPER) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 947,064 shares, a growth of 80.1% from the August 15th total of 525,996 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily trading volume, of 552,812 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On United States Copper Index Fund

Several hedge funds have recently made changes to their positions in the company. Webster Bank N. A. grew its position in United States Copper Index Fund by 70.0% in the 1st quarter. Webster Bank N. A. now owns 850 shares of the company’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of United States Copper Index Fund by 0.7% in the second quarter. TD Waterhouse Canada Inc. now owns 57,387 shares of the company’s stock valued at $2,134,000 after acquiring an additional 399 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of United States Copper Index Fund by 480.0% during the second quarter. NewEdge Advisors LLC now owns 725 shares of the company’s stock worth $27,000 after acquiring an additional 600 shares during the period. UBS Group AG increased its stake in shares of United States Copper Index Fund by 0.9% during the fourth quarter. UBS Group AG now owns 85,382 shares of the company’s stock worth $2,985,000 after acquiring an additional 735 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in United States Copper Index Fund by 1.4% during the first quarter. PNC Financial Services Group Inc. now owns 53,837 shares of the company’s stock worth $1,854,000 after purchasing an additional 750 shares in the last quarter.

United States Copper Index Fund Price Performance

Shares of United States Copper Index Fund stock traded down $0.08 during trading hours on Wednesday, hitting $38.59. The company had a trading volume of 408,320 shares, compared to its average volume of 897,236. The company’s 50-day moving average is $39.35 and its two-hundred day moving average is $37.81. The company has a market cap of $746.72 million, a P/E ratio of 3.31 and a beta of 0.49. United States Copper Index Fund has a twelve month low of $28.20 and a twelve month high of $41.29.

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.