United States Copper Index Fund (NYSEARCA:CPER – Get Free Report) dropped 1.7% during trading on Wednesday . The stock traded as low as $40.02 and last traded at $40.06. Approximately 300,201 shares changed hands during trading, a decline of 68% from the average daily volume of 924,197 shares. The stock had previously closed at $40.76.
United States Copper Index Fund Stock Performance
The stock’s 50-day simple moving average is $38.78 and its 200 day simple moving average is $37.45. The company has a market capitalization of $775.16 million, a PE ratio of 3.31 and a beta of 0.48.
Hedge Funds Weigh In On United States Copper Index Fund
A number of institutional investors and hedge funds have recently modified their holdings of CPER. Bank of America Corp DE raised its stake 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 in the last quarter. LPL Financial LLC boosted its position in shares of United States Copper Index Fund by 111.6% during the 4th quarter. LPL Financial LLC now owns 261,506 shares of the company’s stock worth $9,142,000 after acquiring an additional 137,916 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of United States Copper Index Fund during the 4th quarter worth about $3,491,000. Ameriprise Financial Inc. increased its holdings in shares of United States Copper Index Fund by 259.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 101,677 shares of the company’s stock valued at $3,051,000 after acquiring an additional 73,383 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of United States Copper Index Fund in the 2nd quarter valued at about $2,483,000.
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.
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