Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) Reaches New 52-Week High – Should You Buy?

Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $23.38 and last traded at $23.3850, with a volume of 42073 shares changing hands. The stock had previously closed at $23.19.

Invesco DB Commodity Index Tracking Fund Price Performance

The stock’s 50-day moving average is $22.72 and its 200 day moving average is $22.33. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 5.00 and a beta of 0.24.

Institutional Investors Weigh In On Invesco DB Commodity Index Tracking Fund

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in Invesco DB Commodity Index Tracking Fund by 1.7% in the 3rd quarter. Bank of America Corp DE now owns 4,123,577 shares of the company’s stock valued at $92,904,000 after acquiring an additional 67,602 shares during the period. Quadrature Capital Ltd grew its stake in shares of Invesco DB Commodity Index Tracking Fund by 331.9% in the second quarter. Quadrature Capital Ltd now owns 796,744 shares of the company’s stock worth $17,373,000 after purchasing an additional 612,267 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Invesco DB Commodity Index Tracking Fund by 1.7% during the third quarter. Envestnet Asset Management Inc. now owns 627,807 shares of the company’s stock valued at $14,144,000 after purchasing an additional 10,765 shares during the period. Cordant Inc. increased its holdings in shares of Invesco DB Commodity Index Tracking Fund by 3.6% during the third quarter. Cordant Inc. now owns 448,934 shares of the company’s stock valued at $10,114,000 after purchasing an additional 15,491 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Invesco DB Commodity Index Tracking Fund by 127.2% during the first quarter. Goldman Sachs Group Inc. now owns 436,068 shares of the company’s stock valued at $9,812,000 after purchasing an additional 244,174 shares in the last quarter. Institutional investors own 48.28% of the company’s stock.

Invesco DB Commodity Index Tracking Fund Company Profile

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. Deutsche Bank offers unparalleled financial services in countries throughout the world.