Invesco DB Oil Fund (NYSEARCA:DBO) Shares Up 0.8% – Should You Buy?

Invesco DB Oil Fund (NYSEARCA:DBO)’s share price rose 0.8% on Tuesday . The stock traded as high as $12.41 and last traded at $12.40. Approximately 257,719 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 366,003 shares. The stock had previously closed at $12.30.

Invesco DB Oil Fund Stock Down 0.2%

The business has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $13.32. The company has a market cap of $207.20 million, a PE ratio of 2.38 and a beta of 0.43.

Institutional Investors Weigh In On Invesco DB Oil Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. purchased a new position in Invesco DB Oil Fund during the second quarter valued at $11,045,000. Prudential PLC raised its position in shares of Invesco DB Oil Fund by 0.7% during the 3rd quarter. Prudential PLC now owns 547,222 shares of the company’s stock worth $7,360,000 after purchasing an additional 3,600 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Invesco DB Oil Fund by 0.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 194,731 shares of the company’s stock valued at $2,574,000 after buying an additional 1,299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Invesco DB Oil Fund by 275.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,300 shares of the company’s stock valued at $2,251,000 after buying an additional 124,900 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Invesco DB Oil Fund by 65.8% in the 1st quarter. Jane Street Group LLC now owns 111,002 shares of the company’s stock worth $1,591,000 after buying an additional 44,054 shares during the last quarter.

Invesco DB Oil Fund Company Profile

PowerShares DB Oil Fund (the Fund) is a separate series of PowerShares DB Multi-Sector Commodity Trust (the Trust). The Fund is a based on the DBIQ Optimum Yield Crude Oil Index Excess Return (the Index). The Fund seeks to track the changes, whether positive or negative, in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return (the Index) over time, plus the excess, if any, of the Fund’s interest income from its holdings of United States Treasury Obligations and other high credit quality short-term fixed income securities over the expenses of the Fund.