United States Copper Index Fund (NYSEARCA:CPER) Reaches New 52-Week High – What’s Next?

United States Copper Index Fund (NYSEARCA:CPER) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.44 and last traded at $37.0830, with a volume of 53932 shares trading hands. The stock had previously closed at $36.88.

United States Copper Index Fund Price Performance

The company’s 50-day moving average is $33.32 and its 200-day moving average is $31.43. The firm has a market capitalization of $540.52 million, a price-to-earnings ratio of 3.31 and a beta of 0.52.

Hedge Funds Weigh In On United States Copper Index Fund

A number of large investors have recently modified their holdings of CPER. Ignite Planners LLC boosted its stake in shares of United States Copper Index Fund by 5.6% in the third quarter. Ignite Planners LLC now owns 14,669 shares of the company’s stock valued at $440,000 after purchasing an additional 783 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in United States Copper Index Fund in the 2nd quarter valued at about $1,376,000. Envestnet Asset Management Inc. increased its position in shares of United States Copper Index Fund by 44.5% during the second quarter. Envestnet Asset Management Inc. now owns 19,261 shares of the company’s stock worth $609,000 after acquiring an additional 5,933 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of United States Copper Index Fund by 48.2% in the second quarter. PNC Financial Services Group Inc. now owns 27,660 shares of the company’s stock worth $875,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in United States Copper Index Fund by 2.7% in the second quarter. Arkadios Wealth Advisors now owns 112,877 shares of the company’s stock valued at $3,571,000 after purchasing an additional 2,961 shares during the last quarter.

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.