Invesco DB Precious Metals Fund (NYSEARCA:DBP) Sees Significant Decline in Short Interest

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 697 shares, a decrease of 98.0% from the June 30th total of 35,260 shares. Based on an average trading volume of 49,443 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

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 moved higher as traders focused on falling Treasury yields, improving the near-term backdrop for precious metals. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: Spot gold spiked to around $4,070 an ounce after U.S. new home sales came in below expectations, reinforcing demand for defensive assets. Spot gold spikes to $4,070/oz high as U.S. new home sales rise 1.6% in June
• Positive Sentiment: China’s gold imports hit a two-year high, suggesting stronger physical demand after lower prices made bullion more attractive. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Neutral Sentiment: Short interest in DBP plunged sharply in July, which suggests bearish positioning has faded, but it is not a direct catalyst for bullion prices.
• Neutral Sentiment: Several market commentary pieces noted that gold is still struggling to sustain moves above key resistance levels, with higher rates and a stronger dollar continuing to cap upside. Gold Declines on Stronger Dollar, Fed Rate Hike Prospects
• Negative Sentiment: Some analysts warned that gold’s recent rebound remains fragile, with higher rates and a strong dollar limiting the chances of a sustained rally. Silver and gold prices stage a cautious rebound — but analysts see slim hopes for a sustained rally

Invesco DB Precious Metals Fund Stock Up 0.3%

Invesco DB Precious Metals Fund stock traded up $0.27 during mid-day trading on Friday, hitting $92.88. 11,956 shares of the company were exchanged, compared to its average volume of 20,525. The company has a market capitalization of $236.84 million, a PE ratio of 8.02 and a beta of 0.23. The business has a fifty day moving average of $98.55 and a 200 day moving average of $109.28. Invesco DB Precious Metals Fund has a 1-year low of $74.64 and a 1-year high of $140.76.

Hedge Funds Weigh In On Invesco DB Precious Metals Fund

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its position in Invesco DB Precious Metals Fund by 4.6% in the second quarter. Raymond James Financial Inc. now owns 3,139 shares of the company’s stock valued at $236,000 after buying an additional 139 shares in the last quarter. Principal Securities Inc. grew its stake in Invesco DB Precious Metals Fund by 1.4% during the fourth quarter. Principal Securities Inc. now owns 10,775 shares of the company’s stock worth $1,108,000 after buying an additional 145 shares during the last quarter. Financial Network Wealth Advisors LLC increased its holdings in shares of Invesco DB Precious Metals Fund by 147.6% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 307 shares of the company’s stock worth $32,000 after buying an additional 183 shares in the last quarter. Comerica Bank increased its holdings in shares of Invesco DB Precious Metals Fund by 0.9% during the fourth quarter. Comerica Bank now owns 21,878 shares of the company’s stock worth $2,249,000 after buying an additional 196 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Invesco DB Precious Metals Fund by 42.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 905 shares of the company’s stock valued at $93,000 after acquiring an additional 270 shares during the last quarter.

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.