United States Copper Index Fund (NYSEARCA:CPER) Trading Down 1.5% – Here’s Why

United States Copper Index Fund (NYSEARCA:CPER) shares traded down 1.5% on Thursday . The company traded as low as $35.54 and last traded at $35.57. 596,143 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,540,484 shares. The stock had previously closed at $36.12.

United States Copper Index Fund Stock Down 2.1%

The firm has a fifty day moving average of $36.20 and a 200-day moving average of $32.90. The stock has a market capitalization of $757.34 million, a price-to-earnings ratio of 3.31 and a beta of 0.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its position in shares of United States Copper Index Fund by 0.9% in the 4th quarter. UBS Group AG now owns 85,382 shares of the company’s stock worth $2,985,000 after buying an additional 735 shares in the last quarter. Ignite Planners LLC raised its position in United States Copper Index Fund by 5.6% during the third quarter. Ignite Planners LLC now owns 14,669 shares of the company’s stock worth $440,000 after acquiring an additional 783 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in United States Copper Index Fund by 45.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,820 shares of the company’s stock worth $85,000 after acquiring an additional 882 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of United States Copper Index Fund in the fourth quarter valued at about $31,000. Finally, Allworth Financial LP lifted its holdings in shares of United States Copper Index Fund by 59.9% in the third quarter. Allworth Financial LP now owns 2,468 shares of the company’s stock valued at $74,000 after purchasing an additional 925 shares in the last quarter.

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.