Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC) Sets New 52-Week High – Time to Buy?

Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $29.77 and last traded at $29.72, with a volume of 138314 shares changing hands. The stock had previously closed at $29.51.

Invesco DB Commodity Index Tracking Fund Stock Performance

The stock has a market capitalization of $1.72 billion, a P/E ratio of 5.00 and a beta of 0.08. The firm has a 50-day moving average price of $27.45 and a 200 day moving average price of $24.58.

Hedge Funds Weigh In On Invesco DB Commodity Index Tracking Fund

Several institutional investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its position in shares of Invesco DB Commodity Index Tracking Fund by 2.4% during the 4th quarter. Orion Porfolio Solutions LLC now owns 18,842 shares of the company’s stock valued at $421,000 after purchasing an additional 434 shares during the last quarter. Independent Advisor Alliance increased its position in shares of Invesco DB Commodity Index Tracking Fund by 4.5% during the 4th quarter. Independent Advisor Alliance now owns 10,754 shares of the company’s stock valued at $240,000 after purchasing an additional 461 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Invesco DB Commodity Index Tracking Fund by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,084 shares of the company’s stock valued at $449,000 after purchasing an additional 471 shares during the last quarter. Knollwood Investment Advisory LLC increased its position in shares of Invesco DB Commodity Index Tracking Fund by 2.6% during the 3rd quarter. Knollwood Investment Advisory LLC now owns 18,904 shares of the company’s stock valued at $426,000 after purchasing an additional 479 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Invesco DB Commodity Index Tracking Fund by 3.3% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 17,165 shares of the company’s stock valued at $384,000 after purchasing an additional 547 shares during the last quarter. 48.28% of the stock is currently owned by institutional investors.

About Invesco DB Commodity Index Tracking Fund

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. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people