Invesco DB Precious Metals Fund (NYSEARCA:DBP) Stock Price Up 0.6% – What’s Next?

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was up 0.6% on Tuesday . The stock traded as high as $62.03 and last traded at $61.97. Approximately 6,523 shares changed hands during trading, an increase of 19% from the average daily volume of 5,465 shares. The stock had previously closed at $61.61.

Invesco DB Precious Metals Fund Trading Up 0.6 %

The stock has a market capitalization of $158.02 million, a PE ratio of 6.05 and a beta of 0.22. The stock has a 50 day moving average price of $62.95 and a 200-day moving average price of $62.14.

Hedge Funds Weigh In On Invesco DB Precious Metals Fund

A number of institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new stake in Invesco DB Precious Metals Fund in the third quarter worth about $339,000. Prospera Financial Services Inc boosted its position in shares of Invesco DB Precious Metals Fund by 13.6% in the third quarter. Prospera Financial Services Inc now owns 5,979 shares of the company’s stock worth $381,000 after purchasing an additional 717 shares during the period. Finally, Focus Financial Network Inc. bought a new position in shares of Invesco DB Precious Metals Fund in the third quarter worth approximately $496,000.

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.