Invesco DB Precious Metals Fund (NYSEARCA:DBP – Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 28,262 shares, a growth of 257.1% from the September 15th total of 7,915 shares. Based on an average daily trading volume, of 16,571 shares, the short-interest ratio is currently 1.7 days. Approximately 1.1% of the company’s shares are sold short.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in DBP. The Manufacturers Life Insurance Company grew its stake in Invesco DB Precious Metals Fund by 4.0% during the first quarter. The Manufacturers Life Insurance Company now owns 139,142 shares of the company’s stock worth $15,311,000 after purchasing an additional 5,396 shares during the period. Envestnet Asset Management Inc. lifted its stake in Invesco DB Precious Metals Fund by 11.4% in the second quarter. Envestnet Asset Management Inc. now owns 125,677 shares of the company’s stock valued at $11,622,000 after buying an additional 12,880 shares during the period. Dorsey Wright & Associates lifted its stake in Invesco DB Precious Metals Fund by 101.4% in the first quarter. Dorsey Wright & Associates now owns 76,185 shares of the company’s stock valued at $8,383,000 after buying an additional 38,349 shares during the period. Fifth Third Bancorp acquired a new position in Invesco DB Precious Metals Fund in the first quarter valued at approximately $3,487,000. Finally, Royal Bank of Canada boosted its holdings in shares of Invesco DB Precious Metals Fund by 44.1% during the 1st quarter. Royal Bank of Canada now owns 9,878 shares of the company’s stock worth $1,087,000 after buying an additional 3,025 shares in the last quarter.
Invesco DB Precious Metals Fund Trading Down 0.7%
DBP stock traded down $0.68 during midday trading on Monday, hitting $95.46. The stock had a trading volume of 512 shares, compared to its average volume of 17,663. The firm has a market cap of $248.19 million, a P/E ratio of 8.02 and a beta of 0.23. Invesco DB Precious Metals Fund has a 1-year low of $90.01 and a 1-year high of $140.76. The business has a fifty day moving average price of $100.02 and a two-hundred day moving average price of $101.98.
About Invesco DB Precious Metals Fund
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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