Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) Sets New 1-Year High – Time to Buy?

Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.46 and last traded at $31.33, with a volume of 2479245 shares changing hands. The stock had previously closed at $30.81.

Invesco DB Commodity Index Tracking Fund Stock Up 1.7%

The company has a market capitalization of $1.80 billion, a P/E ratio of 5.00 and a beta of 0.10. The stock has a fifty day simple moving average of $28.22 and a 200-day simple moving average of $24.93.

Institutional Trading of Invesco DB Commodity Index Tracking Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in shares of Invesco DB Commodity Index Tracking Fund by 1.7% in the third quarter. Envestnet Asset Management Inc. now owns 627,807 shares of the company’s stock valued at $14,144,000 after buying an additional 10,765 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of Invesco DB Commodity Index Tracking Fund by 18.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,480 shares of the company’s stock valued at $416,000 after buying an additional 2,871 shares in the last quarter. Cardinal Point Capital Management ULC acquired a new stake in shares of Invesco DB Commodity Index Tracking Fund in the third quarter valued at $457,000. Flagship Harbor Advisors LLC increased its stake in shares of Invesco DB Commodity Index Tracking Fund by 15.8% in the third quarter. Flagship Harbor Advisors LLC now owns 13,022 shares of the company’s stock valued at $293,000 after buying an additional 1,778 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. increased its stake in shares of Invesco DB Commodity Index Tracking Fund by 19.7% in the third quarter. Greykasell Wealth Strategies Inc. now owns 14,112 shares of the company’s stock valued at $318,000 after buying an additional 2,325 shares in the last quarter. 48.28% of the stock is currently owned by institutional investors and hedge funds.

About Invesco DB Commodity Index Tracking Fund

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. Deutsche Bank offers unparalleled financial services in countries throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people