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United States Commodity Index Funds Trust (the "Registrant") has announced the upcoming retirement of Mr. Robert L. Nguyen as a Management Director of the United States Commodity Funds LLC ("USCF"), the sponsor of the Registrant. The resignation is set to take effect on May 31, 2025, and is due to Mr. Nguyen’s retirement from his roles as Principal and Management Director of USCF. Following his departure, the board of directors of the Company will be reduced from four to three Management Directors, as USCF has decided not to appoint a successor for Mr. Nguyen.
This change in the board’s composition was reported in a Form 8-K filed with the Securities and Exchange Commission today. The Registrant, based in Walnut Creek, California, operates under the Delaware jurisdiction and is identified by the Central Index Key 0001479247. According to the filing, the Registrant’s securities are registered under the NYSE Arca, Inc., with trading symbols USCI for the United States Commodity Index Fund and CPER for the United States Copper Index Fund. USCI, with a market capitalization of $228.62 million, is currently trading at $71.69, near its 52-week high of $74.13. InvestingPro data shows the fund has delivered strong returns, with a 14.25% gain over the past year and an 8.28% increase year-to-date.
The filing confirms that the information provided is based on a press release statement and that the decision to not replace Mr. Nguyen is part of the organization’s structural changes. It is important to note that no further details regarding the reasons for Mr. Nguyen’s retirement or any potential impact on the Registrant’s operations were disclosed in the filing. The announcement is purely factual and provides no speculative or subjective commentary on the implications of this departure for the company’s future. According to InvestingPro analysis, USCI has demonstrated strong performance momentum, with additional insights and detailed financial metrics available to subscribers.
In other recent news, the United States Commodity Index Funds Trust has released its financial statements for March 2025, offering insights into the monthly financial activities of the United States Commodity Index Fund and the United States Copper Index Fund. These disclosures, made in compliance with Rule 4.22 under the Commodity Exchange Act, provide detailed information on income, losses, and changes in net asset value. Additionally, the Trust has made available its annual financial statements for the year ended December 31, 2024, highlighting the performance and financial status of the funds. The Trust operates under Delaware jurisdiction and is managed by United States Commodity Funds LLC. Audited financial statements for the years ending December 31, 2024, and 2023 have also been disclosed, offering a comprehensive view of the Trust’s financial condition. These filings were made via Form 8-K with the Securities and Exchange Commission but are not considered "filed" for regulatory purposes under certain sections of the Securities Exchange Act of 1934. Investors can access these financial documents on the Trust’s website to gain a better understanding of the funds’ financial health. The Chief Financial Officer, Stuart P. Crumbaugh, has signed off on these reports, ensuring transparency and compliance with regulatory requirements.
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