Invesco DB Oil Fund (NYSEARCA:DBO) shares dropped 0.1% during mid-day trading on Friday . The stock traded as low as $9.55 and last traded at $9.55, approximately 417 shares were traded during mid-day trading. A decline of 100% from the average daily volume of 327,991 shares. The stock had previously closed at $9.56.
The firm has a 50-day moving average price of $9.61 and a 200-day moving average price of $10.14.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential PLC increased its holdings in Invesco DB Oil Fund by 8.9% in the 2nd quarter. Prudential PLC now owns 1,559,746 shares of the company’s stock worth $15,660,000 after buying an additional 126,835 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Invesco DB Oil Fund during the 2nd quarter valued at about $753,000. Invesco Ltd. bought a new stake in shares of Invesco DB Oil Fund during the 2nd quarter valued at about $119,000. Asset Management One Co. Ltd. grew its stake in shares of Invesco DB Oil Fund by 32.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 230,500 shares of the company’s stock valued at $2,314,000 after purchasing an additional 57,000 shares during the period. Finally, Guardian Life Insurance Co. of America grew its stake in shares of Invesco DB Oil Fund by 10.8% during the 2nd quarter. Guardian Life Insurance Co. of America now owns 2,166,527 shares of the company’s stock valued at $21,752,000 after purchasing an additional 211,864 shares during the period.
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.
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