United States Copper Index Fund (NYSEARCA:CPER) Stock Price Up 3.4% – Still a Buy?

United States Copper Index Fund (NYSEARCA:CPER) shares rose 3.4% during trading on Monday . The company traded as high as $30.73 and last traded at $30.37. Approximately 224,790 shares changed hands during trading, an increase of 49% from the average daily volume of 151,280 shares. The stock had previously closed at $29.36.

United States Copper Index Fund Stock Up 3.4%

The company has a market capitalization of $195.89 million, a PE ratio of 3.31 and a beta of 0.54. The stock has a 50-day moving average of $29.33 and a 200 day moving average of $28.24.

Institutional Trading of United States Copper Index Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vermillion Wealth Management Inc. bought a new position in United States Copper Index Fund during the fourth quarter valued at $26,000. Allworth Financial LP bought a new position in United States Copper Index Fund during the fourth quarter valued at $42,000. Creative Financial Designs Inc. ADV grew its holdings in United States Copper Index Fund by 1,542.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,938 shares of the company’s stock valued at $49,000 after purchasing an additional 1,820 shares during the period. Basso Capital Management L.P. bought a new position in United States Copper Index Fund during the fourth quarter valued at $50,000. Finally, Merit Financial Group LLC bought a new position in United States Copper Index Fund during the first quarter valued at $208,000.

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.