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

United States Copper Index Fund (NYSEARCA:CPER)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.20 and last traded at $40.3270, with a volume of 659513 shares traded. The stock had previously closed at $36.78.

United States Copper Index Fund Price Performance

The stock has a market cap of $675.10 million, a PE ratio of 3.31 and a beta of 0.52. The firm’s 50 day moving average price is $34.34 and its two-hundred day moving average price is $31.67.

Hedge Funds Weigh In On United States Copper Index Fund

A number of large investors have recently modified their holdings of CPER. Mirae Asset Global Investments Co. Ltd. boosted its holdings in United States Copper Index Fund by 527.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,100 shares of the company’s stock valued at $13,183,000 after purchasing an additional 317,000 shares during the period. Arkadios Wealth Advisors raised its position in shares of United States Copper Index Fund by 24.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 140,031 shares of the company’s stock valued at $4,201,000 after buying an additional 27,154 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of United States Copper Index Fund during the 3rd quarter worth $3,900,000. Brookwood Investment Group LLC lifted its stake in United States Copper Index Fund by 24.5% during the fourth quarter. Brookwood Investment Group LLC now owns 126,086 shares of the company’s stock worth $4,408,000 after purchasing an additional 24,779 shares during the last quarter. Finally, EHP Funds Inc. bought a new stake in United States Copper Index Fund in the 3rd quarter worth approximately $3,330,000.

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.