Invesco DB Precious Metals Fund (NYSEARCA:DBP) Short Interest Down 57.8% in August

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the target of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 13,125 shares, a decrease of 57.8% from the July 30th total of 31,117 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 12,517 shares, the days-to-cover ratio is presently 1.0 days.

Invesco DB Precious Metals Fund Stock Down 3.3%

Invesco DB Precious Metals Fund stock traded down $3.52 during mid-day trading on Friday, hitting $102.98. 3,745 shares of the stock were exchanged, compared to its average volume of 18,958. Invesco DB Precious Metals Fund has a 12 month low of $78.78 and a 12 month high of $140.76. The firm’s fifty day simple moving average is $96.79 and its two-hundred day simple moving average is $106.24. The stock has a market capitalization of $267.75 million, a price-to-earnings ratio of 8.02 and a beta of 0.23.

Hedge Funds Weigh In On Invesco DB Precious Metals Fund

A number of hedge funds have recently bought and sold shares of DBP. Jane Street Group LLC lifted its position 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 valued at $7,976,000 after acquiring an additional 74,630 shares during the period. Dorsey Wright & Associates boosted its stake in Invesco DB Precious Metals Fund by 101.4% during the first quarter. Dorsey Wright & Associates now owns 76,185 shares of the company’s stock worth $8,383,000 after acquiring an additional 38,349 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in Invesco DB Precious Metals Fund in the fourth quarter worth $3,293,000. Fifth Third Bancorp acquired a new stake in Invesco DB Precious Metals Fund in the first quarter worth $3,487,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Invesco DB Precious Metals Fund by 18.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 133,746 shares of the company’s stock worth $13,750,000 after purchasing an additional 21,293 shares during the period.

Key Stories Impacting Invesco DB Precious Metals Fund

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

• Positive Sentiment: Gold has rebounded approximately 15% since June after a weak quarter, indicating renewed investor interest in precious metals. Gold is Glittering This Quarter
• Positive Sentiment: Ongoing demand for gold as a hedge against dollar debasement, fiscal concerns and geopolitical risks could provide downside support for DBP. Gold Rises as Dollar Debasement Trade Attracts Investors
• Neutral Sentiment: Technical analysts continue to identify potential upside toward the $4,774-$4,800 area if gold holds support near its 200-day moving average, although a breakout has not been confirmed. Gold Price Eyes $4,800 Breakout as Jackson Hole Decision Looms
• Neutral Sentiment: Markets are awaiting Kevin Warsh’s Jackson Hole remarks for clues on interest rates; his comments could drive sharp moves in both gold and silver. Gold Falls as Markets Await Jackson Hole
• Negative Sentiment: Warsh’s comments revived September rate-hike expectations, lifting the dollar and contributing to a roughly $235 four-session decline in gold. Gold also fell below its 200-day moving average, weakening the near-term technical outlook for DBP. Gold Price Breaks 200-Day Moving Average
• Negative Sentiment: Sticky inflation data has increased the risk of prolonged restrictive monetary policy, while gold has struggled near resistance around $4,700. Sticky PCE Puts Warsh and Fed in Focus

About Invesco DB Precious Metals Fund

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.