United States Copper Index Fund (NYSEARCA:CPER) Trading 0.1% Higher – Still a Buy?

United States Copper Index Fund (NYSEARCA:CPER) shares traded up 0.1% during trading on Thursday . The company traded as high as $34.96 and last traded at $34.37. 1,956,158 shares were traded during trading, an increase of 39% from the average session volume of 1,411,902 shares. The stock had previously closed at $34.34.

United States Copper Index Fund Stock Performance

The stock has a market cap of $747.55 million, a price-to-earnings ratio of 3.31 and a beta of 0.52. The company’s 50 day simple moving average is $35.53 and its two-hundred day simple moving average is $33.46.

Hedge Funds Weigh In On United States Copper Index Fund

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of United States Copper Index Fund by 527.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,100 shares of the company’s stock worth $13,183,000 after acquiring an additional 317,000 shares in the last quarter. LPL Financial LLC raised its stake 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 purchasing an additional 137,916 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of United States Copper Index Fund during the 3rd quarter worth about $3,900,000. EHP Funds Inc. acquired a new stake in shares of United States Copper Index Fund during the 3rd quarter valued at about $3,330,000. Finally, Empowered Funds LLC acquired a new stake in shares of United States Copper Index Fund during the 4th quarter valued at about $3,491,000.

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.