Invesco DB Oil Fund (NYSEARCA:DBO) Stock Price Down 1.7% – Here’s Why

Invesco DB Oil Fund (NYSEARCA:DBO) shares fell 1.7% during mid-day trading on Friday . The stock traded as low as $13.11 and last traded at $13.24. 283,936 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 376,293 shares. The stock had previously closed at $13.47.

Invesco DB Oil Fund Price Performance

The company’s 50-day moving average is $13.62 and its 200-day moving average is $13.38. The firm has a market capitalization of $219.12 million, a price-to-earnings ratio of 2.38 and a beta of 0.90.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DBO. Jane Street Group LLC raised its holdings in Invesco DB Oil Fund by 445.5% in the fourth quarter. Jane Street Group LLC now owns 66,948 shares of the company’s stock valued at $958,000 after buying an additional 54,676 shares during the period. Fluent Financial LLC purchased a new position in Invesco DB Oil Fund in the first quarter valued at approximately $1,622,000. Envestnet Asset Management Inc. raised its holdings in Invesco DB Oil Fund by 12.6% in the first quarter. Envestnet Asset Management Inc. now owns 193,432 shares of the company’s stock valued at $2,772,000 after buying an additional 21,719 shares during the period. Narus Financial Partners LLC raised its holdings in Invesco DB Oil Fund by 23.0% in the first quarter. Narus Financial Partners LLC now owns 249,421 shares of the company’s stock valued at $3,574,000 after buying an additional 46,671 shares during the period. Finally, Independent Advisor Alliance purchased a new position in Invesco DB Oil Fund in the first quarter valued at approximately $380,000.

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.