Invesco DB Precious Metals Fund (NYSEARCA:DBP) Sees Large Decline in Short Interest

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the target of a significant decrease in short interest during 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 daily volume of 11,657 shares, the short-interest ratio is currently 3.0 days. Approximately 1.4% of the shares of the company are short sold.

Key Headlines Impacting Invesco DB Precious Metals Fund

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

• Positive Sentiment: Gold rebounded toward session highs near $4,000/oz after U.S. consumer sentiment improved and one-year inflation expectations eased, a combination that can help support precious-metals demand. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Several analysts argue the recent pullback in gold is nearing completion, with technical commentary suggesting the correction is largely done and that a longer-term uptrend may still be intact. Gold Price Forecast: The Bottoming Process Continues as Bearishness Deepens
• Positive Sentiment: Longer-term bullish views remain in place, with reports noting that central-bank buying continues to be a structural driver and some portfolio managers expect to increase gold exposure again later in the cycle. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Gold remains under pressure from stronger U.S. economic data, higher Treasury yields, and a firmer dollar, which has kept the metal below key psychological support around $4,000 and weighed on near-term sentiment. Spot gold slides to session low $3.999/oz after Philly Fed survey rises to 41.4 in July
• Neutral Sentiment: Market commentary also notes that gold is still trying to hold important support levels, so DBP may continue to trade with elevated sensitivity to incoming U.S. data and currency moves. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: Some recent reports say gold has erased much of this year’s gains and is vulnerable to further downside if risk appetite improves and macro conditions remain unfavorable for safe-haven buying. Gold Just Shed 3 Quarters of Gains, Expert Lists 3 Stocks You Should Watch

Invesco DB Precious Metals Fund Stock Performance

NYSEARCA DBP traded up $0.56 on Friday, hitting $91.56. 7,897 shares of the stock traded hands, compared to its average volume of 20,891. The business’s fifty day moving average is $100.95 and its two-hundred day moving average is $109.78. 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 market capitalization of $233.49 million, a price-to-earnings ratio of 8.02 and a beta of 0.23.

Institutional Investors Weigh In On Invesco DB Precious Metals Fund

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Invesco DB Precious Metals Fund in the 4th quarter valued at about $28,000. Financial Network Wealth Advisors LLC boosted its position in Invesco DB Precious Metals Fund by 147.6% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 307 shares of the company’s stock worth $32,000 after purchasing an additional 183 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Invesco DB Precious Metals Fund by 42.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 905 shares of the company’s stock worth $93,000 after purchasing an additional 270 shares in the last quarter. WestEnd Advisors LLC purchased a new position in shares of Invesco DB Precious Metals Fund in the fourth quarter worth about $117,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Invesco DB Precious Metals Fund in the fourth quarter valued at approximately $208,000.

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.