Invesco DB Precious Metals Fund (NYSEARCA:DBP) Sees Large Drop in Short Interest

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the target of a large decline in short interest in May. As of May 29th, there was short interest totaling 22,630 shares, a decline of 47.4% from the May 14th total of 43,008 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 11,534 shares, the days-to-cover ratio is presently 2.0 days.

Invesco DB Precious Metals Fund Price Performance

NYSEARCA DBP opened at $101.59 on Tuesday. The stock’s 50 day simple moving average is $108.51 and its 200 day simple moving average is $110.94. Invesco DB Precious Metals Fund has a one year low of $74.07 and a one year high of $140.76. The firm has a market cap of $259.05 million, a PE ratio of 8.02 and a beta of 0.19.

Institutional Trading of Invesco DB Precious Metals Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in Invesco DB Precious Metals Fund during the 4th quarter worth $28,000. Financial Network Wealth Advisors LLC increased its stake in shares of Invesco DB Precious Metals Fund by 147.6% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 307 shares of the company’s stock valued at $32,000 after buying an additional 183 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Invesco DB Precious Metals Fund by 42.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 905 shares of the company’s stock worth $93,000 after acquiring an additional 270 shares during the last quarter. WestEnd Advisors LLC bought a new stake in shares of Invesco DB Precious Metals Fund during the fourth quarter worth $117,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Invesco DB Precious Metals Fund during the fourth quarter valued at $208,000.

Key Invesco DB Precious Metals Fund News

Here are the key news stories impacting Invesco DB Precious Metals Fund this week:

• Positive Sentiment: Gold and silver rallied after the U.S.-Iran ceasefire, with gold extending gains and silver also moving higher, which supports DBP because the fund tracks precious metals. Gold Edges Higher, Extending Gains After U.S.-Iran Ceasefire
• Positive Sentiment: Comex gold settled 2.68% higher and silver rose nearly 3.3%, confirming strong momentum in the metals that drive DBP’s performance. Comex Gold Settles 2.68% Higher at $4328.00
• Positive Sentiment: Central bank demand remains a major source of support, with a record share of central banks planning to increase gold holdings, which is bullish for long-term gold prices and DBP. Record 45% of central banks plan to increase gold holdings, WGC survey finds
• Positive Sentiment: Traders are also betting on continued technical recovery in gold and silver amid inflation pressure and safe-haven demand, which could keep DBP supported if the metal rally continues. Gold (XAUUSD) & Silver Price Forecast: Truce Stability vs Inflation Pressure Amid Iran-Israel Conflict – Upside Ahead?
• Neutral Sentiment: Some reports say geopolitical tensions have eased with the truce, which may temper the strongest safe-haven bid, but precious metals are still finding support from other factors. Central Banks Are Rethinking Where They Store Their Gold

Invesco DB Precious Metals Fund Company Profile

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.