United States Copper Index Fund (NYSEARCA:CPER) Reaches New 52-Week High – Time to Buy?

United States Copper Index Fund (NYSEARCA:CPER)’s share price reached a new 52-week high on Wednesday . The company traded as high as $40.78 and last traded at $40.7750, with a volume of 378613 shares trading hands. The stock had previously closed at $40.14.

United States Copper Index Fund Stock Performance

The company has a 50-day moving average price of $38.55 and a 200-day moving average price of $37.10. The firm has a market capitalization of $772.07 million, a price-to-earnings ratio of 3.31 and a beta of 0.48.

Hedge Funds Weigh In On United States Copper Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Webster Bank N. A. grew its position in shares of 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. Western Wealth Management LLC acquired a new position in United States Copper Index Fund in the first quarter valued at $30,000. Geneos Wealth Management Inc. acquired a new position in United States Copper Index Fund in the fourth quarter valued at $31,000. Lloyd Advisory Services LLC. acquired a new position in United States Copper Index Fund in the fourth quarter valued at $57,000. Finally, Kestra Investment Management LLC purchased a new position in shares of United States Copper Index Fund during the second quarter worth about $57,000.

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.