United States Copper Index Fund (NYSEARCA:CPER) Sets New 52-Week High – Here’s Why

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

United States Copper Index Fund Stock Up 1.2%

The company has a market capitalization of $794.32 million, a P/E ratio of 3.31 and a beta of 0.49. The firm has a fifty day simple moving average of $39.24 and a 200-day simple moving average of $37.73.

Institutional Investors Weigh In On United States Copper Index Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC lifted its stake 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 valued at $9,142,000 after acquiring an additional 137,916 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of United States Copper Index Fund by 1,902.7% during the 1st 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 last quarter. Ameriprise Financial Inc. lifted its position in United States Copper Index Fund by 259.4% during the third quarter. Ameriprise Financial Inc. now owns 101,677 shares of the company’s stock worth $3,051,000 after acquiring an additional 73,383 shares during the last quarter. Empowered Funds LLC acquired a new stake in United States Copper Index Fund during the 4th quarter worth approximately $3,491,000. Finally, UBS Group AG boosted its position in shares of United States Copper Index Fund by 0.9% in the fourth quarter. UBS Group AG now owns 85,382 shares of the company’s stock valued at $2,985,000 after acquiring an additional 735 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.