Invesco DB Oil Fund (NYSEARCA:DBO) Trading Down 0.4% – Should You Sell?

Invesco DB Oil Fund (NYSEARCA:DBO)’s stock price dropped 0.4% during trading on Monday . The company traded as low as $12.22 and last traded at $12.36. Approximately 377,256 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 388,652 shares. The stock had previously closed at $12.41.

Invesco DB Oil Fund Stock Performance

The company has a market cap of $192.82 million, a PE ratio of 2.38 and a beta of 0.90. The business’s 50-day moving average is $13.36 and its 200 day moving average is $13.25.

Hedge Funds Weigh In On Invesco DB Oil Fund

A number of large investors have recently added to or reduced their stakes in DBO. E Fund Management Co. Ltd. purchased a new position in Invesco DB Oil Fund in the 2nd quarter worth $11,045,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Invesco DB Oil Fund by 275.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,300 shares of the company’s stock worth $2,251,000 after acquiring an additional 124,900 shares during the last quarter. Narus Financial Partners LLC grew its holdings in Invesco DB Oil Fund by 23.0% in the 1st quarter. Narus Financial Partners LLC now owns 249,421 shares of the company’s stock worth $3,574,000 after acquiring an additional 46,671 shares during the last quarter. Jane Street Group LLC grew its holdings in Invesco DB Oil Fund by 65.8% in the 1st quarter. Jane Street Group LLC now owns 111,002 shares of the company’s stock worth $1,591,000 after acquiring an additional 44,054 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Invesco DB Oil Fund in the 2nd quarter worth $360,000.

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.