Invesco DB Precious Metals Fund (NYSEARCA:DBP) Stock Price Up 1.8% – Here’s What Happened

Invesco DB Precious Metals Fund (NYSEARCA:DBP)’s share price rose 1.8% during trading on Monday. The stock traded as high as $88.73 and last traded at $88.06. Approximately 18,642 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 17,210 shares. The stock had previously closed at $86.48.

More Invesco DB Precious Metals Fund News

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

• Positive Sentiment: Gold, silver and other precious metals jumped as election projections pointed to Democratic gains in Congress and the dollar weakened, supporting DBP’s precious-metals exposure. Gold, silver and precious metals prices jump, dollar dips as Democrats take control of Congress
• Positive Sentiment: Gold’s post-election rebound is testing trend resistance; a sustained move through key levels could strengthen the case for a bullish reversal and provide further support to DBP. Gold (XAU/USD) Price Forecast: Post-Election Rally Tests Critical Resistance
• Neutral Sentiment: Gold has reclaimed $4,000, but one strategist cautions that it needs to clear further hurdles to repair technical damage from last week’s selloff. Is gold’s recovery above $4,000 enough to fix a broken market?
• Negative Sentiment: Rising real yields and persistent inflation may leave gold’s rebound vulnerable to renewed selling. Friday’s U.S. jobs report is another near-term catalyst that could move precious metals. Gold Rebounds, but I Remain Wary Ahead of Friday’s Jobs Report

Invesco DB Precious Metals Fund Stock Performance

The stock’s 50 day simple moving average is $96.61 and its 200 day simple moving average is $105.02. The firm has a market cap of $235.87 million, a P/E ratio of 8.02 and a beta of 0.25.

Institutional Investors Weigh In On Invesco DB Precious Metals Fund

Large investors have recently added to or reduced their stakes in the company. Dorsey Wright & Associates boosted its position in shares of Invesco DB Precious Metals Fund by 101.4% during the first quarter. Dorsey Wright & Associates now owns 76,185 shares of the company’s stock valued at $8,383,000 after buying an additional 38,349 shares during the last quarter. Fifth Third Bancorp purchased a new position in Invesco DB Precious Metals Fund during the first quarter valued at $3,487,000. Envestnet Asset Management Inc. raised its stake in Invesco DB Precious Metals Fund by 11.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,677 shares of the company’s stock worth $11,622,000 after acquiring an additional 12,880 shares during the period. Power Wealth Management LLC lifted its stake in shares of Invesco DB Precious Metals Fund by 468.3% during the 2nd quarter. Power Wealth Management LLC now owns 11,343 shares of the company’s stock valued at $1,049,000 after buying an additional 9,347 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Invesco DB Precious Metals Fund by 4.0% in the first quarter. The Manufacturers Life Insurance Company now owns 139,142 shares of the company’s stock worth $15,311,000 after acquiring an additional 5,396 shares during the period.

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.