Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) Hits New 52-Week High – Here’s Why

Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $23.38 and last traded at $23.3850, with a volume of 42073 shares trading hands. The stock had previously closed at $23.19.

Invesco DB Commodity Index Tracking Fund Price Performance

The stock’s fifty day simple moving average is $22.71 and its 200-day simple moving average is $22.31. The firm has a market cap of $1.31 billion, a PE ratio of 5.00 and a beta of 0.24.

Hedge Funds Weigh In On Invesco DB Commodity Index Tracking Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DBC. Strategic Investment Solutions Inc. IL lifted its position in Invesco DB Commodity Index Tracking Fund by 555.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares during the period. Advisory Services Network LLC purchased a new position in shares of Invesco DB Commodity Index Tracking Fund in the third quarter worth about $2,235,000. Knollwood Investment Advisory LLC raised its stake in shares of Invesco DB Commodity Index Tracking Fund by 2.6% in the third quarter. Knollwood Investment Advisory LLC now owns 18,904 shares of the company’s stock worth $426,000 after purchasing an additional 479 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Invesco DB Commodity Index Tracking Fund by 1,998.7% during the third quarter. Lido Advisors LLC now owns 303,656 shares of the company’s stock worth $6,842,000 after purchasing an additional 289,187 shares during the period. Finally, Bank of America Corp DE boosted its position in Invesco DB Commodity Index Tracking Fund by 1.7% in the third quarter. Bank of America Corp DE now owns 4,123,577 shares of the company’s stock valued at $92,904,000 after buying an additional 67,602 shares during the last quarter. Hedge funds and other institutional investors own 48.28% of the company’s stock.

About Invesco DB Commodity Index Tracking Fund

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. Deutsche Bank offers unparalleled financial services in countries throughout the world.