United States Copper Index Fund (NYSEARCA:CPER) Sets New 52-Week High – Time to Buy?

United States Copper Index Fund (NYSEARCA:CPER) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.44 and last traded at $37.0830, with a volume of 53932 shares. The stock had previously closed at $36.88.

United States Copper Index Fund Price Performance

The company’s fifty day moving average price is $33.06 and its 200 day moving average price is $31.35. The company has a market cap of $505.17 million, a PE ratio of 3.31 and a beta of 0.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CPER. Jane Street Group LLC increased its position in shares of United States Copper Index Fund by 23.9% during the 1st quarter. Jane Street Group LLC now owns 70,596 shares of the company’s stock valued at $2,231,000 after purchasing an additional 13,605 shares during the last quarter. Farther Finance Advisors LLC raised its position in United States Copper Index Fund by 400.0% in the second quarter. Farther Finance Advisors LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the period. Highline Wealth Partners LLC purchased a new position in United States Copper Index Fund in the second quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of United States Copper Index Fund by 67.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,200 shares of the company’s stock valued at $1,652,000 after acquiring an additional 21,000 shares during the period. Finally, Tcfg Wealth Management LLC increased its stake in shares of United States Copper Index Fund by 35.0% during the 2nd quarter. Tcfg Wealth Management LLC now owns 41,066 shares of the company’s stock worth $1,299,000 after purchasing an additional 10,640 shares during the last quarter.

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.