United States Copper Index Fund (NYSEARCA:CPER) Stock Price Down 1.7% – Here’s What Happened

United States Copper Index Fund (NYSEARCA:CPER)’s share price dropped 1.7% on Wednesday . The company traded as low as $40.02 and last traded at $40.06. Approximately 300,201 shares changed hands during trading, a decline of 68% from the average session volume of 924,197 shares. The stock had previously closed at $40.76.

United States Copper Index Fund Price Performance

The firm has a market capitalization of $775.16 million, a price-to-earnings ratio of 3.31 and a beta of 0.48. The firm has a 50 day moving average price of $38.78 and a 200-day moving average price of $37.45.

Institutional Investors Weigh In On United States Copper Index Fund

Large investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. raised its position in United States Copper Index Fund by 0.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 57,387 shares of the company’s stock valued at $2,134,000 after purchasing an additional 399 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of United States Copper Index Fund by 20.9% in the 2nd quarter. Continuum Advisory LLC now owns 10,181 shares of the company’s stock valued at $384,000 after buying an additional 1,763 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of United States Copper Index Fund during the second quarter worth about $2,483,000. Western Wealth Management LLC acquired a new position in shares of United States Copper Index Fund during the first quarter worth about $30,000. Finally, Bank of America Corp DE increased its stake 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 worth $5,020,000 after buying an additional 138,520 shares during the period.

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.