United States Commodity Index Fund (NYSEARCA:USCI) Shares Up 0.4% – Still a Buy?

United States Commodity Index Fund (NYSEARCA:USCI)’s share price rose 0.4% on Monday . The stock traded as high as $97.11 and last traded at $96.63. Approximately 12,813 shares were traded during trading, a decline of 41% from the average daily volume of 21,674 shares. The stock had previously closed at $96.27.

United States Commodity Index Fund Price Performance

The firm has a 50-day simple moving average of $88.00 and a two-hundred day simple moving average of $81.87. The company has a market cap of $352.70 million, a PE ratio of 29.98 and a beta of 0.22.

Hedge Funds Weigh In On United States Commodity Index Fund

Several hedge funds have recently bought and sold shares of USCI. Bank of America Corp DE purchased a new stake in shares of United States Commodity Index Fund in the second quarter valued at $29,000. Global Retirement Partners LLC grew its position in shares of United States Commodity Index Fund by 535.0% in the fourth quarter. Global Retirement Partners LLC now owns 635 shares of the company’s stock valued at $49,000 after purchasing an additional 535 shares during the period. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of United States Commodity Index Fund in the third quarter valued at $201,000. Prospera Financial Services Inc purchased a new stake in shares of United States Commodity Index Fund in the fourth quarter valued at $201,000. Finally, Fort Sheridan Advisors LLC purchased a new stake in shares of United States Commodity Index Fund in the third quarter valued at $210,000.

About United States Commodity Index Fund

The United States Commodity Index Fund, LP (USCI) is an exchange-traded fund that is based on the SummerHaven Dynamic Commodity index. The fund tracks an equal-weighted index of 14 commodity futures contracts selected based on their level of backwardation and price momentum. USCI was launched on Aug 10, 2010 and is managed by US Commodity Funds.