United States Copper Index Fund (NYSEARCA:CPER) Trading Down 1.8% – Here’s Why

Shares of United States Copper Index Fund (NYSEARCA:CPER) traded down 1.8% during mid-day trading on Tuesday . The company traded as low as $27.16 and last traded at $27.21. 419,414 shares changed hands during mid-day trading, an increase of 82% from the average session volume of 229,933 shares. The stock had previously closed at $27.72.

United States Copper Index Fund Trading Down 1.8%

The stock’s 50-day simple moving average is $31.68 and its 200-day simple moving average is $30.06. The firm has a market capitalization of $183.67 million, a P/E ratio of 3.31 and a beta of 0.73.

Institutional Investors Weigh In On United States Copper Index Fund

A number of institutional investors have recently added to or reduced their stakes in CPER. Envestnet Asset Management Inc. lifted its holdings in United States Copper Index Fund by 27.2% during the first quarter. Envestnet Asset Management Inc. now owns 13,328 shares of the company’s stock worth $421,000 after acquiring an additional 2,850 shares during the period. Arkadios Wealth Advisors bought a new stake in United States Copper Index Fund during the first quarter worth $3,473,000. Ignite Planners LLC lifted its holdings in United States Copper Index Fund by 19.1% during the first quarter. Ignite Planners LLC now owns 13,253 shares of the company’s stock worth $382,000 after acquiring an additional 2,124 shares during the period. Whittier Trust Co. bought a new stake in United States Copper Index Fund during the first quarter worth $443,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in United States Copper Index Fund during the first quarter worth $232,000.

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.