Invesco DB Oil Fund (NYSEARCA:DBO) Shares Down 1.7% – Time to Sell?

Invesco DB Oil Fund (NYSEARCA:DBO)’s share price dropped 1.7% on Wednesday . The company traded as low as $14.29 and last traded at $14.34. Approximately 184,741 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 408,958 shares. The stock had previously closed at $14.59.

Invesco DB Oil Fund Price Performance

The stock has a market cap of $238.10 million, a PE ratio of 3.01 and a beta of 0.04. The stock has a 50-day simple moving average of $14.61 and a 200-day simple moving average of $14.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Good Life Advisors LLC purchased a new position in shares of Invesco DB Oil Fund in the 3rd quarter valued at $143,000. Rik Saylor Financial Inc. purchased a new position in Invesco DB Oil Fund in the fourth quarter valued at about $176,000. BNP Paribas Financial Markets lifted its stake in shares of Invesco DB Oil Fund by 1,584.7% during the third quarter. BNP Paribas Financial Markets now owns 23,586 shares of the company’s stock worth $329,000 after purchasing an additional 22,186 shares in the last quarter. Finally, Narus Financial Partners LLC boosted its position in shares of Invesco DB Oil Fund by 3.3% in the third quarter. Narus Financial Partners LLC now owns 167,496 shares of the company’s stock worth $2,340,000 after buying an additional 5,315 shares during the period.

About Invesco DB Oil Fund

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.