Invesco DB Precious Metals Fund (NYSEARCA:DBP) Shares Climb 1.8% – Here’s Why

Invesco DB Precious Metals Fund (NYSEARCA:DBP) shares were up 1.8% during mid-day trading on Monday. The stock traded as high as $88.73 and last traded at $88.06. Approximately 18,642 shares traded hands during trading, an increase of 8% from the average session volume of 17,210 shares. The stock had previously closed at $86.48.

Invesco DB Precious Metals Fund Trading Up 1.8%

The firm’s fifty day moving average price is $97.35 and its 200 day moving average price is $105.28. The firm has a market capitalization of $228.96 million, a PE ratio of 8.02 and a beta of 0.23.

Hedge Funds Weigh In On Invesco DB Precious Metals Fund

Several institutional investors have recently modified their holdings of the business. WestEnd Advisors LLC bought a new stake in shares of Invesco DB Precious Metals Fund in the third quarter valued at approximately $127,000. Envestnet Asset Management Inc. increased its stake in Invesco DB Precious Metals Fund by 11.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,677 shares of the company’s stock worth $11,622,000 after acquiring an additional 12,880 shares during the period. Power Wealth Management LLC increased its stake in Invesco DB Precious Metals Fund by 468.3% during the 2nd quarter. Power Wealth Management LLC now owns 11,343 shares of the company’s stock worth $1,049,000 after acquiring an additional 9,347 shares during the period. Royal Bank of Canada raised its holdings in Invesco DB Precious Metals Fund by 44.1% in the 1st quarter. Royal Bank of Canada now owns 9,878 shares of the company’s stock valued at $1,087,000 after acquiring an additional 3,025 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Invesco DB Precious Metals Fund by 4.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 139,142 shares of the company’s stock valued at $15,311,000 after acquiring an additional 5,396 shares in the last quarter.

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.