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

United States Copper Index Fund (NYSEARCA:CPER)’s share price hit a new 52-week high 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 Trading Up 2.9%

The business’s 50 day simple moving average is $39.11 and its two-hundred day simple moving average is $37.66. The firm has a market capitalization of $795.13 million, a PE ratio of 3.31 and a beta of 0.49.

Hedge Funds Weigh In On United States Copper Index Fund

Several institutional investors have recently made changes to their positions in CPER. Platform Technology Partners increased its position in United States Copper Index Fund by 86.0% in the first quarter. Platform Technology Partners now owns 12,089 shares of the company’s stock worth $416,000 after purchasing an additional 5,589 shares during the last quarter. SMART Wealth LLC bought a new position in shares of United States Copper Index Fund during the 1st quarter valued at approximately $800,000. Continuum Advisory LLC purchased a new stake in United States Copper Index Fund during the 1st quarter valued at $290,000. Fiduciary Alliance LLC bought a new stake in United States Copper Index Fund in the first quarter worth $438,000. Finally, Evolve Private Wealth LLC purchased a new position in United States Copper Index Fund during the first quarter worth $388,000.

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.