United States Copper Index Fund (NYSEARCA:CPER) Stock Crosses Below 200-Day Moving Average – What’s Next?

United States Copper Index Fund (NYSEARCA:CPER)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $37.95 and traded as low as $37.33. United States Copper Index Fund shares last traded at $37.36, with a volume of 973,274 shares changing hands.

United States Copper Index Fund Price Performance

The stock has a market capitalization of $704.43 million, a price-to-earnings ratio of 3.31 and a beta of 0.46. The company’s 50-day simple moving average is $39.63 and its 200-day simple moving average is $37.96.

Hedge Funds Weigh In On United States Copper Index Fund

Large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in United States Copper Index Fund by 1,902.7% in the 1st 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 during the period. Proficio Capital Partners LLC acquired a new stake in shares of United States Copper Index Fund during the second quarter worth $2,483,000. TD Waterhouse Canada Inc. boosted its position 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 during the period. Basso Capital Management L.P. boosted its position in shares of United States Copper Index Fund by 189.9% in the third quarter. Basso Capital Management L.P. now owns 55,415 shares of the company’s stock valued at $2,204,000 after acquiring an additional 36,300 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of United States Copper Index Fund by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 53,837 shares of the company’s stock valued at $1,854,000 after acquiring an additional 750 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.