United States Copper Index Fund (NYSEARCA:CPER) Short Interest Update

United States Copper Index Fund (NYSEARCA:CPER) was the target of a large drop in short interest in 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 trading volume, of 632,152 shares, the short-interest ratio is presently 1.8 days. Currently, 5.4% of the company’s shares are sold short.

United States Copper Index Fund Trading Up 0.3%

NYSEARCA:CPER traded up $0.10 during mid-day trading on Monday, hitting $39.65. 613,310 shares of the company’s stock were exchanged, compared to its average volume of 1,118,625. The company has a 50 day simple moving average of $37.70 and a 200-day simple moving average of $35.95. United States Copper Index Fund has a fifty-two week low of $27.08 and a fifty-two week high of $40.78. The firm has a market capitalization of $824.72 million, a P/E ratio of 3.31 and a beta of 0.48.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new position in United States Copper Index Fund during the 1st quarter worth approximately $30,000. Bank of America Corp DE raised its holdings in United States Copper Index Fund by 1,902.7% during the 1st quarter. Bank of America Corp DE now owns 145,800 shares of the company’s stock worth $5,020,000 after purchasing an additional 138,520 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new position in United States Copper Index Fund during the 1st quarter worth approximately $65,000. Compound Planning Inc. raised its holdings in United States Copper Index Fund by 7.0% during the 1st quarter. Compound Planning Inc. now owns 14,266 shares of the company’s stock worth $491,000 after purchasing an additional 929 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new position in United States Copper Index Fund during the 1st quarter worth approximately $211,000.

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.