Invesco DB Oil Fund (NYSEARCA:DBO) Trading Up 0.8% – Still a Buy?

Posted by Jeff Wilder on Dec 25th, 2024

Invesco DB Oil Fund (NYSEARCA:DBO – Get Free Report) shares traded up 0.8% on Wednesday . The company traded as high as $14.02 and last traded at $13.95. 106,154 shares were traded during mid-day trading, a decline of 72% from the average session volume of 379,320 shares. The stock had previously closed at $13.84.

Invesco DB Oil Fund Price Performance

The stock’s 50 day simple moving average is $14.38 and its two-hundred day simple moving average is $14.80. The firm has a market cap of $232.27 million, a P/E ratio of 3.01 and a beta of 0.04.

Institutional Investors Weigh In On Invesco DB Oil Fund

Several hedge funds have recently added to or reduced their stakes in DBO. Narus Financial Partners LLC raised its holdings in Invesco DB Oil Fund by 3.3% in the third quarter. Narus Financial Partners LLC now owns 167,496 shares of the company’s stock worth $2,340,000 after buying an additional 5,315 shares during the last quarter. Good Life Advisors LLC bought a new stake in shares of Invesco DB Oil Fund during the third quarter valued at approximately $143,000. BNP Paribas Financial Markets raised its holdings in Invesco DB Oil Fund by 1,584.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,586 shares of the company’s stock worth $329,000 after acquiring an additional 22,186 shares during the last quarter. Finally, Prudential PLC lifted its position in Invesco DB Oil Fund by 7.8% in the 2nd quarter. Prudential PLC now owns 565,972 shares of the company’s stock valued at $9,010,000 after acquiring an additional 40,900 shares in the last quarter.

About Invesco DB Oil Fund

(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.