Invesco DB Base Metals Fund (NYSEARCA:DBB – Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 927,823 shares, a growth of 762.3% from the April 30th total of 107,598 shares. Based on an average daily volume of 433,339 shares, the days-to-cover ratio is currently 2.1 days. Currently, 7.5% of the company’s shares are short sold.
Invesco DB Base Metals Fund Stock Performance
Shares of DBB stock opened at $25.73 on Thursday. Invesco DB Base Metals Fund has a fifty-two week low of $17.81 and a fifty-two week high of $26.49. The stock has a 50 day moving average price of $24.60 and a two-hundred day moving average price of $23.66. The company has a market capitalization of $319.05 million, a P/E ratio of 3.20 and a beta of 0.51.
Institutional Trading of Invesco DB Base Metals Fund
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in shares of Invesco DB Base Metals Fund by 49.8% during the fourth quarter. Wells Fargo & Company MN now owns 440,486 shares of the company’s stock valued at $10,105,000 after acquiring an additional 146,416 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Invesco DB Base Metals Fund by 70.7% during the first quarter. Bank of America Corp DE now owns 383,287 shares of the company’s stock valued at $9,007,000 after acquiring an additional 158,721 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Invesco DB Base Metals Fund by 1,518.5% during the second quarter. The Manufacturers Life Insurance Company now owns 335,433 shares of the company’s stock valued at $6,497,000 after acquiring an additional 314,708 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Invesco DB Base Metals Fund by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 246,042 shares of the company’s stock valued at $5,644,000 after acquiring an additional 2,038 shares in the last quarter. Finally, GenTrust LLC raised its holdings in shares of Invesco DB Base Metals Fund by 2.3% during the third quarter. GenTrust LLC now owns 131,581 shares of the company’s stock valued at $2,703,000 after acquiring an additional 2,900 shares in the last quarter. Institutional investors own 40.73% of the company’s stock.
About Invesco DB Base Metals Fund
PowerShares DB Base Metals Fund (the Fund) is a separate series of PowerShares DB Multi-Sector Commodity Trust (the Trust), a Delaware statutory trust organized in seven separate series. The Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Industrial Metals Index Excess Return (the Index) over time, plus the excess, if any, of the Fund’s interest income from its holdings of United States Treasury Obligations and other high credit quality short-term fixed income securities over the expenses of the Fund.
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