Aug 31, 2012 (Dow Jones) NEW YORK--Speculative traders turned bullish on Comex copper futures and options in the week ended Aug. 28, according to data released Friday afternoon by the Commodity Futures Trading Commission.

Managed money funds added 963 long positions, or bets on higher prices, and shed 5,521 short positions, or bets on lower prices, during the reporting period.

This flipped their net position, or the difference between the number of long and short contracts held by the managed-fund category, to net long from net short a week earlier.

The managed money net long position is now 3,260 contracts, as opposed to a net short position of 3,224 contracts a week earlier.

Investors tend to watch changes in the net position, which is considered an indicator of shifts in market sentiment.