United States Copper Index Fund (NYSEARCA:CPER) Shares Up 1.6% – Still a Buy?

United States Copper Index Fund (NYSEARCA:CPER)’s share price shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $28.00 and last traded at $27.93. 149,318 shares changed hands during trading, an increase of 34% from the average session volume of 111,323 shares. The stock had previously closed at $27.48.

United States Copper Index Fund Price Performance

The firm has a fifty day simple moving average of $26.37 and a 200 day simple moving average of $26.55. The company has a market cap of $194.11 million, a price-to-earnings ratio of 3.28 and a beta of 0.49.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC grew its position in shares of United States Copper Index Fund by 63.7% in the fourth quarter. Apollon Wealth Management LLC now owns 33,913 shares of the company’s stock valued at $853,000 after purchasing an additional 13,193 shares during the last quarter. Stifel Financial Corp boosted its stake in United States Copper Index Fund by 130.7% during the 3rd quarter. Stifel Financial Corp now owns 28,541 shares of the company’s stock valued at $809,000 after purchasing an additional 16,170 shares during the period. Sanctuary Advisors LLC acquired a new stake in United States Copper Index Fund in the 2nd quarter valued at approximately $402,000. Ignite Planners LLC increased its position in United States Copper Index Fund by 16.3% in the 4th quarter. Ignite Planners LLC now owns 11,129 shares of the company’s stock worth $284,000 after buying an additional 1,560 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of United States Copper Index Fund during the third quarter worth approximately $215,000.

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.