Invesco DB Precious Metals Fund (NYSEARCA:DBP) Shares Up 1.8% – Still a Buy?

Invesco DB Precious Metals Fund (NYSEARCA:DBP)’s stock price shot up 1.8% during mid-day trading on Monday. The company 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 daily volume of 17,210 shares. The stock had previously closed at $86.48.

Invesco DB Precious Metals Fund Stock Up 1.8%

The firm’s 50 day moving average is $97.35 and its 200-day moving average is $105.28. The firm has a market cap 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 added to or reduced their stakes in DBP. Dorsey Wright & Associates boosted its stake in Invesco DB Precious Metals Fund by 101.4% in the 1st quarter. Dorsey Wright & Associates now owns 76,185 shares of the company’s stock worth $8,383,000 after buying an additional 38,349 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Invesco DB Precious Metals Fund during the 1st quarter worth about $3,487,000. Envestnet Asset Management Inc. lifted its holdings in shares of 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 boosted its position in shares of Invesco DB Precious Metals Fund by 468.3% in the second 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 last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Invesco DB Precious Metals Fund by 4.0% in the first quarter. The Manufacturers Life Insurance Company now owns 139,142 shares of the company’s stock worth $15,311,000 after acquiring an additional 5,396 shares during 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.