Invesco DB Precious Metals Fund (NYSEARCA:DBP) Short Interest Up 96.8% in May

Invesco DB Precious Metals Fund (NYSEARCA:DBP) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 43,008 shares, an increase of 96.8% from the April 30th total of 21,852 shares. Based on an average daily trading volume, of 14,763 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.7% of the company’s stock are sold short.

Institutional Investors Weigh In On Invesco DB Precious Metals Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Invesco DB Precious Metals Fund by 5.9% during the first quarter. Royal Bank of Canada now owns 5,399 shares of the company’s stock worth $386,000 after purchasing an additional 300 shares during the last quarter. Jane Street Group LLC increased its stake in Invesco DB Precious Metals Fund by 201.7% in the first quarter. Jane Street Group LLC now owns 111,626 shares of the company’s stock valued at $7,976,000 after purchasing an additional 74,630 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Invesco DB Precious Metals Fund by 4.6% during the second quarter. Raymond James Financial Inc. now owns 3,139 shares of the company’s stock worth $236,000 after purchasing an additional 139 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Invesco DB Precious Metals Fund by 277.1% during the second quarter. Ameriprise Financial Inc. now owns 17,503 shares of the company’s stock worth $1,315,000 after purchasing an additional 12,861 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in shares of Invesco DB Precious Metals Fund during the 3rd quarter worth approximately $77,000.

Invesco DB Precious Metals Fund Stock Performance

DBP stock opened at $106.32 on Tuesday. The company’s 50 day moving average price is $109.47 and its 200 day moving average price is $110.46. The firm has a market capitalization of $271.12 million, a price-to-earnings ratio of 8.02 and a beta of 0.20. Invesco DB Precious Metals Fund has a fifty-two week low of $74.07 and a fifty-two week high of $140.76.

Trending Headlines about Invesco DB Precious Metals Fund

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

• Positive Sentiment: Longer-term commentary remains constructive for gold, with one fund manager arguing that the Federal Reserve’s dilemma between inflation, economic growth, and rising debt could support precious metals over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre
• Neutral Sentiment: Gold traders are still watching geopolitical developments, including U.S.-Iran negotiations and Middle East tensions, which have kept safe-haven demand in play but have not offset the recent pullback. Gold Declines as Uncertainty Clouds U.S.-Iran Talks
• Neutral Sentiment: Gold also remains sensitive to incoming U.S. economic data, with stronger-than-expected manufacturing activity helping pressure prices as traders reassess the odds of near-term Fed easing. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Rising Treasury yields, a stronger dollar, and higher oil prices have been weighing on gold, with multiple market reports describing continued bearish momentum and a retreat below key price levels. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields

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.