Short Interest in Invesco DB Precious Metals Fund (NYSEARCA:DBP) Decreases By 44.0%

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 35,260 shares, a decrease of 44.0% from the June 15th total of 62,978 shares. Based on an average trading volume of 11,657 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.4% of the company’s shares are short sold.

Invesco DB Precious Metals Fund Trading Up 0.6%

Invesco DB Precious Metals Fund stock opened at $91.57 on Friday. Invesco DB Precious Metals Fund has a 12-month low of $74.64 and a 12-month high of $140.76. The firm has a 50-day moving average price of $100.53 and a 200-day moving average price of $109.65. The firm has a market capitalization of $233.50 million, a PE ratio of 8.02 and a beta of 0.23.

More Invesco DB Precious Metals Fund News

Here are the key news stories impacting Invesco DB Precious Metals Fund this week:

• Positive Sentiment: Gold briefly rallied near the $4,000/oz level after U.S. consumer sentiment improved and one-year inflation expectations eased, which can support precious metals holdings like DBP. Article Title
• Positive Sentiment: Several analysts said the recent pullback in gold does not necessarily end the longer-term bull market, and Fidelity’s Samson said his firm plans to go overweight gold again, reinforcing the strategic appeal of precious metals exposure. Article Title
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition in the gold fund space, but the headline is more relevant to ETF flows than to DBP’s near-term fundamentals. Article Title
• Negative Sentiment: Gold has been under pressure overall, slipping below key support levels as stronger U.S. labor and manufacturing data, rising Treasury yields, and a firmer dollar weigh on prices. That creates a headwind for DBP in the near term. Article Title

Institutional Trading of Invesco DB Precious Metals Fund

Several institutional investors have recently added to or reduced their stakes in DBP. Royal Bank of Canada grew its stake in shares of Invesco DB Precious Metals Fund by 5.9% during the first quarter. Royal Bank of Canada now owns 5,399 shares of the company’s stock valued at $386,000 after buying an additional 300 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Invesco DB Precious Metals Fund by 201.7% during the 1st quarter. Jane Street Group LLC now owns 111,626 shares of the company’s stock worth $7,976,000 after acquiring an additional 74,630 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Invesco DB Precious Metals Fund by 4.6% during the 2nd quarter. Raymond James Financial Inc. now owns 3,139 shares of the company’s stock worth $236,000 after acquiring an additional 139 shares during the last quarter. Ameriprise Financial Inc. grew its position in Invesco DB Precious Metals Fund by 277.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,503 shares of the company’s stock valued at $1,315,000 after acquiring an additional 12,861 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in Invesco DB Precious Metals Fund by 36.5% in the third quarter. Kestra Private Wealth Services LLC now owns 13,507 shares of the company’s stock worth $1,201,000 after purchasing an additional 3,614 shares during the period.

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.