Invesco DB Oil Fund (NYSEARCA:DBO) Shares Up 2.8% – Still a Buy?

Posted by Jared Coughlin on Dec 5th, 2024

Invesco DB Oil Fund (NYSEARCA:DBO – Get Free Report)’s share price rose 2.8% on Tuesday . The company traded as high as $14.60 and last traded at $14.55. Approximately 184,253 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 387,831 shares. The stock had previously closed at $14.15.

Invesco DB Oil Fund Stock Performance

The firm has a market capitalization of $237.26 million, a price-to-earnings ratio of 3.01 and a beta of 0.04. The business’s 50 day moving average is $14.49 and its 200-day moving average is $14.88.

Institutional Investors Weigh In On Invesco DB Oil Fund

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of Invesco DB Oil Fund by 1,584.7% during the third quarter. BNP Paribas Financial Markets now owns 23,586 shares of the company’s stock worth $329,000 after purchasing an additional 22,186 shares during the last quarter. Narus Financial Partners LLC grew its holdings in Invesco DB Oil Fund by 3.3% during the 3rd quarter. Narus Financial Partners LLC now owns 167,496 shares of the company’s stock worth $2,340,000 after acquiring an additional 5,315 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Invesco DB Oil Fund in the 3rd quarter valued at about $143,000. Prudential PLC raised its stake in shares of Invesco DB Oil Fund by 7.8% in the second quarter. Prudential PLC now owns 565,972 shares of the company’s stock worth $9,010,000 after acquiring an additional 40,900 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Invesco DB Oil Fund during the second quarter worth approximately $334,000.

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.