United States Copper Index Fund (NYSEARCA:CPER) Hits New 1-Year High – Still a Buy?

United States Copper Index Fund (NYSEARCA:CPER)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $41.41 and last traded at $41.4110, with a volume of 1053770 shares traded. The stock had previously closed at $40.67.

United States Copper Index Fund Stock Performance

The firm has a market capitalization of $759.41 million, a price-to-earnings ratio of 3.31 and a beta of 0.49. The business has a fifty day moving average price of $39.61 and a 200 day moving average price of $37.98.

Institutional Trading of United States Copper Index Fund

A number of institutional investors have recently modified their holdings of CPER. Bank of America Corp DE raised its holdings in United States Copper Index Fund by 1,902.7% in the first quarter. Bank of America Corp DE now owns 145,800 shares of the company’s stock valued at $5,020,000 after buying an additional 138,520 shares during the period. Proficio Capital Partners LLC purchased a new stake in United States Copper Index Fund during the second quarter worth approximately $2,483,000. TD Waterhouse Canada Inc. grew its stake in United States Copper Index Fund by 0.7% during the second quarter. TD Waterhouse Canada Inc. now owns 57,387 shares of the company’s stock worth $2,134,000 after buying an additional 399 shares during the period. PNC Financial Services Group Inc. increased 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 worth $1,854,000 after acquiring an additional 750 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of United States Copper Index Fund by 235.9% in the fourth quarter. HighTower Advisors LLC now owns 48,619 shares of the company’s stock worth $1,700,000 after acquiring an additional 34,144 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.