Invesco DB Precious Metals Fund (NYSEARCA:DBP – Get Free Report) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 697 shares, a drop of 98.0% from the June 30th total of 35,260 shares. Based on an average trading volume of 49,443 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.
Invesco DB Precious Metals Fund Stock Performance
Invesco DB Precious Metals Fund stock traded up $0.27 during trading on Friday, reaching $92.88. 11,956 shares of the company’s stock were exchanged, compared to its average volume of 20,525. The company’s 50-day moving average is $98.55 and its two-hundred day moving average is $109.28. Invesco DB Precious Metals Fund has a 52-week low of $74.64 and a 52-week high of $140.76. The firm has a market cap of $236.84 million, a price-to-earnings ratio of 8.02 and a beta of 0.23.
Key Stories Impacting Invesco DB Precious Metals Fund
Here are the key news stories impacting Invesco DB Precious Metals Fund this week:
- Positive Sentiment: Gold and silver moved higher as traders focused on falling Treasury yields, improving the near-term backdrop for precious metals. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
- Positive Sentiment: Spot gold spiked to around $4,070 an ounce after U.S. new home sales came in below expectations, reinforcing demand for defensive assets. Spot gold spikes to $4,070/oz high as U.S. new home sales rise 1.6% in June
- Positive Sentiment: China’s gold imports hit a two-year high, suggesting stronger physical demand after lower prices made bullion more attractive. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
- Neutral Sentiment: Short interest in DBP plunged sharply in July, which suggests bearish positioning has faded, but it is not a direct catalyst for bullion prices.
- Neutral Sentiment: Several market commentary pieces noted that gold is still struggling to sustain moves above key resistance levels, with higher rates and a stronger dollar continuing to cap upside. Gold Declines on Stronger Dollar, Fed Rate Hike Prospects
- Negative Sentiment: Some analysts warned that gold’s recent rebound remains fragile, with higher rates and a strong dollar limiting the chances of a sustained rally. Silver and gold prices stage a cautious rebound — but analysts see slim hopes for a sustained rally
Institutional Investors Weigh In On Invesco DB Precious Metals Fund
Invesco DB Precious Metals Fund Company Profile
The Invesco DB Precious Metals Fund (DBP) is an exchange-traded fund that is based on the DBIQ Optimum Yield Precious Metals index. The fund tracks an index of gold and silver futures contracts. It optimizes its contract selection based on the shape of the futures curve to minimize contango. DBP was launched on Jan 5, 2007 and is managed by Invesco.
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