The United States Commodity Index Funds Trust reported significant financial performance for the first quarter of 2025, with total income reaching $55.0 million, a substantial increase from $18.7 million in the same period of 2024. The Trust's net income for the quarter was $54.1 million, translating to a net income per share of $5.96 for the United States Commodity Index Fund (USCI) and $6.27 for the United States Copper Index Fund (CPER). This marks a notable rise in profitability, with USCI's net income increasing from $13.1 million year-over-year and CPER's from $4.8 million.
The Trust's total assets as of March 31, 2025, amounted to $453.7 million, up from $334.9 million at the end of 2024. This growth was driven by an increase in cash and cash equivalents, which rose to $412.4 million from $313.2 million. The number of outstanding shares also increased, with USCI having 3.3 million shares and CPER 6.35 million shares as of the reporting date. The net asset value per share for USCI was $72.00, up from $66.04, while CPER's was $31.50, up from $25.23.
Operationally, the Trust has seen a rise in trading activity, with USCI holding 4,570 futures contracts and CPER holding 1,575 contracts as of March 31, 2025. The increase in trading volume is reflected in the higher commissions accrued to brokers, which rose to $42,850 for USCI and decreased to $3,875 for CPER compared to the previous year. The Trust's management fees also increased, reflecting the growth in total net assets, with USCI's management fee at $417,789 and CPER's at $268,397.
Looking ahead, the Trust's management remains optimistic about its performance, citing favorable market conditions and a strategic focus on commodity futures that align with its investment objectives. The Trust aims to continue tracking the SummerHaven Dynamic Commodity Index Total Return (SDCI) and the SummerHaven Copper Index Total Return (SCI), with expectations of maintaining a tracking error within the established benchmarks. However, the Trust acknowledges potential risks, including market volatility and regulatory changes, which could impact future performance.
About United States Commodity Index Funds Trust
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