Invesco DB Precious Metals Fund (NYSEARCA:DBP) Shares Down 0.7% – Here’s Why

Shares of Invesco DB Precious Metals Fund (NYSEARCA:DBP) dropped 0.7% during trading on Thursday . The company traded as low as $77.13 and last traded at $77.48. Approximately 5,656 shares traded hands during trading, a decline of 71% from the average daily volume of 19,759 shares. The stock had previously closed at $78.05.

Invesco DB Precious Metals Fund Trading Down 0.7%

The firm has a market cap of $193.70 million, a PE ratio of 8.02 and a beta of 0.25. The stock’s 50 day moving average price is $75.72 and its 200 day moving average price is $70.98.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC grew its position in shares of Invesco DB Precious Metals Fund by 201.7% in the 1st quarter. Jane Street Group LLC now owns 111,626 shares of the company’s stock worth $7,976,000 after acquiring an additional 74,630 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Invesco DB Precious Metals Fund by 116.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 66,702 shares of the company’s stock valued at $4,766,000 after acquiring an additional 35,873 shares in the last quarter. Dorsey Wright & Associates bought a new position in Invesco DB Precious Metals Fund during the first quarter worth $2,633,000. Susquehanna International Group LLP boosted its holdings in Invesco DB Precious Metals Fund by 93.2% in the fourth quarter. Susquehanna International Group LLP now owns 34,320 shares of the company’s stock worth $2,084,000 after purchasing an additional 16,557 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Invesco DB Precious Metals Fund by 372.8% in the first quarter. Cetera Investment Advisers now owns 22,842 shares of the company’s stock worth $1,632,000 after purchasing an additional 18,011 shares during the period.

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.