Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) Sets New 1-Year High – Time to Buy?

Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.35 and last traded at $30.34, with a volume of 1564338 shares changing hands. The stock had previously closed at $30.09.

Invesco DB Commodity Index Tracking Fund Price Performance

The firm has a market capitalization of $1.75 billion, a PE ratio of 5.00 and a beta of 0.08. The company’s fifty day simple moving average is $27.95 and its 200-day simple moving average is $24.80.

Hedge Funds Weigh In On Invesco DB Commodity Index Tracking Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of 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 worth $92,904,000 after buying an additional 67,602 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Invesco DB Commodity Index Tracking Fund by 670.3% in the fourth quarter. JPMorgan Chase & Co. now owns 817,253 shares of the company’s stock worth $18,274,000 after buying an additional 711,157 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Invesco DB Commodity Index Tracking Fund by 1.7% in the third quarter. Envestnet Asset Management Inc. now owns 627,807 shares of the company’s stock worth $14,144,000 after buying an additional 10,765 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Invesco DB Commodity Index Tracking Fund by 194.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 494,207 shares of the company’s stock worth $11,050,000 after buying an additional 326,632 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its stake in shares of Invesco DB Commodity Index Tracking Fund by 3.9% in the fourth quarter. Palumbo Wealth Management LLC now owns 485,566 shares of the company’s stock worth $10,857,000 after buying an additional 18,271 shares in the last quarter. 48.28% of the stock is owned by hedge funds and other institutional investors.

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. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people