Copper on Win Streak; ETN Rises Above 50-Day

April 8th at 8:42am by John Spence

A copper exchange traded note was rising for the third straight day Friday as industrial metals have turned in a profitable week.

The $230 million iPath Dow Jones-UBS Copper Total Return Subindex ETN (NYSEArca: JJC) was up nearly 2% at last check Friday. Investors watch copper prices as an indicator for the health of the global economy, with China in particular stepping up its imports of the red metal.

The ETN is designed to reflect the performance of copper futures. The note was up 3% for the week ended April 7, according to Morningtar, and has climbed back above its 50-day moving average. Other industrial metals such as tin, nickel and aluminum have been strong this week.

PowerShares DB Base Metals Fund (NYSEArca: DBB) was also up nearly 2% on Friday, close to a 52-week high.

PowerShares DB Base Metals Fund

First Trust ISE Global Copper Index Fund (NasdaqGM: CU)


The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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