Invesco DB Oil Fund (NYSEARCA:DBO) Stock Falls 0.7% – Here’s What Happened

Invesco DB Oil Fund (NYSEARCA:DBO – Get Free Report)’s share price dropped 0.7% during trading on Tuesday. The stock traded as low as $26.12 and last traded at $26.27. 668,548 shares changed hands during trading, a decline of 27% from the average daily volume of 914,627 shares. The stock had previously closed at $26.45.

Invesco DB Oil Fund Price Performance

The company has a fifty day simple moving average of $24.08 and a two-hundred day simple moving average of $20.04. The company has a market capitalization of $316.55 million, a P/E ratio of 2.38 and a beta of 0.14.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Narus Financial Partners LLC raised its stake in shares of Invesco DB Oil Fund by 3.2% in the 3rd quarter. Narus Financial Partners LLC now owns 135,571 shares of the company’s stock valued at $3,220,000 after acquiring an additional 4,227 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Invesco DB Oil Fund by 672.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 106,641 shares of the company’s stock worth $2,533,000 after purchasing an additional 92,841 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Invesco DB Oil Fund by 84.5% in the 1st quarter. Cetera Investment Advisers now owns 81,285 shares of the company’s stock worth $1,599,000 after purchasing an additional 37,232 shares during the last quarter. Finally, Cadence Wealth Management LLC acquired a new stake in Invesco DB Oil Fund in the 1st quarter worth approximately $282,000.

Invesco DB Oil Fund Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Invesco DB Oil Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco DB Oil Fund and related companies with MarketBeat.com's FREE daily email newsletter.