Invesco DB Oil Fund (NYSEARCA:DBO) Stock Price Down 4.1% – Time to Sell?

Invesco DB Oil Fund (NYSEARCA:DBO)’s share price fell 4.1% during trading on Tuesday . The company traded as low as $18.68 and last traded at $19.00. 546,768 shares changed hands during trading, a decline of 57% from the average session volume of 1,275,725 shares. The stock had previously closed at $19.81.

More Invesco DB Oil Fund News

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

• Positive Sentiment: U.S. crude inventories fell for a ninth straight week, signaling tighter near-term supply and offering some support for oil prices. US crude stocks fall for ninth straight week, sources say
• Positive Sentiment: A tropical cyclone forming off the Texas coast could threaten offshore drilling and refining operations, which may temporarily disrupt supply and support oil prices. Potential Tropical Cyclone One forms off Texas coast, threatening dangerous flash flooding
• Neutral Sentiment: Oil markets remain volatile as traders weigh whether the U.S.-Iran agreement will restore Gulf supply faster than expected, with some reports saying shipping disruptions could still keep a floor under prices. Spot oil premiums slip to pre-war levels after US-Iran deal, but shipping angst provides floor
• Neutral Sentiment: Several market commentaries noted that oil prices are stabilizing near lower levels after the peace deal, but investors are still waiting for more detail on how quickly Middle East supply and Hormuz transit normalize. U.S. Futures Steady, Oil Edges Lower as Markets Stabilize
• Negative Sentiment: Oil prices fell sharply as traders priced in a faster recovery of Persian Gulf supply and the prospect of Iran being allowed to resume oil sales, which is bearish for DBO. Major Wall Street Banks Cut Oil-Price Forecasts on Faster Gulf Supply Recovery
• Negative Sentiment: Additional reports that the Strait of Hormuz may reopen soon and that major banks are cutting oil forecasts reinforced the view that crude prices could stay under pressure. Oil Prices Fall Further as Trump Says Strait of Hormuz Will Reopen This Week

Invesco DB Oil Fund Stock Down 4.1%

The firm has a market capitalization of $355.30 million, a price-to-earnings ratio of 2.38 and a beta of 0.10. The stock has a 50-day moving average price of $21.33 and a 200 day moving average price of $17.05.

Hedge Funds Weigh In On Invesco DB Oil Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of Invesco DB Oil Fund during the fourth quarter worth about $33,000. Roxbury Financial LLC acquired a new position in shares of Invesco DB Oil Fund during the first quarter worth about $122,000. Forty three Eighteen Advisors LLC acquired a new position in shares of Invesco DB Oil Fund during the fourth quarter worth about $137,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Invesco DB Oil Fund during the second quarter worth about $184,000. Finally, Cadence Wealth Management LLC acquired a new position in shares of Invesco DB Oil Fund during the first quarter worth about $282,000.

Invesco DB Oil Fund Company Profile

PowerShares DB Oil Fund (the Fund) is a separate series of PowerShares DB Multi-Sector Commodity Trust (the Trust). The Fund is a based on the DBIQ Optimum Yield Crude Oil Index Excess Return (the Index). The Fund seeks to track the changes, whether positive or negative, in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return (the Index) over time, plus the excess, if any, of the Fund’s interest income from its holdings of United States Treasury Obligations and other high credit quality short-term fixed income securities over the expenses of the Fund.