Invesco DB Oil Fund (NYSEARCA:DBO) Stock Price Down 0.7% – Here’s Why

Invesco DB Oil Fund (NYSEARCA:DBO) shares traded down 0.7% on Tuesday. The company traded as low as $26.12 and last traded at $26.27. 668,548 shares changed hands during trading, a decline of 27% from the average session volume of 914,627 shares. The stock had previously closed at $26.45.

Invesco DB Oil Fund Trading Down 0.7%

The firm has a market capitalization of $316.55 million, a price-to-earnings ratio of 2.38 and a beta of 0.14. The company has a fifty day moving average price of $24.08 and a 200-day moving average price of $20.04.

Hedge Funds Weigh In On Invesco DB Oil Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DBO. Narus Financial Partners LLC lifted its stake in Invesco DB Oil Fund by 3.2% in the third quarter. Narus Financial Partners LLC now owns 135,571 shares of the company’s stock valued at $3,220,000 after acquiring an additional 4,227 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Invesco DB Oil Fund by 672.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 106,641 shares of the company’s stock valued at $2,533,000 after purchasing an additional 92,841 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Invesco DB Oil Fund by 84.5% during the 1st quarter. Cetera Investment Advisers now owns 81,285 shares of the company’s stock valued at $1,599,000 after purchasing an additional 37,232 shares in the last quarter. Finally, Cadence Wealth Management LLC acquired a new stake in shares of Invesco DB Oil Fund in the 1st quarter valued at $282,000.

About Invesco DB Oil Fund

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.