United States Copper Index Fund (NYSEARCA:CPER) Stock Price Down 1.7% – Here’s Why

Shares of United States Copper Index Fund (NYSEARCA:CPER) fell 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 Down 0.2%

The company has a market cap of $773.61 million, a price-to-earnings ratio of 3.31 and a beta of 0.48. The company’s fifty day moving average price is $38.80 and its two-hundred day moving average price is $37.47.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPER. LPL Financial LLC increased 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 purchasing an additional 137,916 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of United States Copper Index Fund by 1,902.7% in the 1st 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 last quarter. Ameriprise Financial Inc. grew its stake in shares of United States Copper Index Fund by 259.4% in the third quarter. Ameriprise Financial Inc. now owns 101,677 shares of the company’s stock valued at $3,051,000 after buying an additional 73,383 shares in the last quarter. Empowered Funds LLC bought a new position in shares of United States Copper Index Fund in the fourth quarter valued at $3,491,000. Finally, UBS Group AG increased its holdings in United States Copper Index Fund by 0.9% during the fourth quarter. UBS Group AG now owns 85,382 shares of the company’s stock worth $2,985,000 after buying an additional 735 shares during 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.