NEW YORK, Mar 23, 2012 (Dow Jones) -- Managed-money funds increased their bullish stake in Comex copper futures and options by 20% in the week ended March 20, according to data released Friday afternoon by the Commodity Futures Trading Commission.
Speculative traders, including hedge funds, added 4,717 long contracts, or bets on higher prices, and 1,916 short contracts, or bets on lower prices, during the reporting period. This raised their net position to 17,060 long contracts, from 14,259 long contracts a week earlier.
The net position is the difference between long and short positions held by traders in the category. Changes in the net position are widely considered indicators of shifts in trader sentiment.