United States Copper Index Fund (NYSEARCA:CPER – Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 1,131,741 shares, a drop of 39.1% from the May 14th total of 1,857,316 shares. Based on an average daily volume of 632,152 shares, the days-to-cover ratio is currently 1.8 days. Approximately 5.4% of the company’s shares are short sold.
Hedge Funds Weigh In On United States Copper Index Fund
A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of United States Copper Index Fund by 527.5% during 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 buying an additional 317,000 shares during the period. Bank of America Corp DE raised its position 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 worth $5,020,000 after buying an additional 138,520 shares during the period. LPL Financial LLC boosted its holdings in United States Copper Index Fund by 111.6% in the fourth quarter. LPL Financial LLC now owns 261,506 shares of the company’s stock valued at $9,142,000 after acquiring an additional 137,916 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in United States Copper Index Fund during the third quarter valued at about $3,900,000. Finally, EHP Funds Inc. purchased a new stake in United States Copper Index Fund during the third quarter valued at about $3,330,000.
United States Copper Index Fund Stock Performance
United States Copper Index Fund stock traded down $0.10 during trading on Tuesday, hitting $39.55. The company’s stock had a trading volume of 394,598 shares, compared to its average volume of 1,112,034. The stock has a market capitalization of $822.64 million, a price-to-earnings ratio of 3.31 and a beta of 0.48. The stock’s fifty day moving average is $37.81 and its 200 day moving average is $36.01. United States Copper Index Fund has a 1-year low of $27.08 and a 1-year high of $40.78.
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.
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