Invesco DB Oil Fund (NYSEARCA:DBO) Trading Up 3.3% – Should You Buy?

Invesco DB Oil Fund (NYSEARCA:DBO)’s share price shot up 3.3% during mid-day trading on Wednesday . The stock traded as high as $15.93 and last traded at $15.88. 352,458 shares changed hands during trading, a decline of 12% from the average session volume of 398,662 shares. The stock had previously closed at $15.37.

Invesco DB Oil Fund Trading Up 3.3 %

The company has a market capitalization of $264.40 million, a PE ratio of 3.01 and a beta of 0.04. The stock’s fifty day moving average is $14.41 and its two-hundred day moving average is $14.69.

Institutional Investors Weigh In On Invesco DB Oil Fund

A number of hedge funds have recently modified their holdings of the stock. Good Life Advisors LLC purchased a new stake in Invesco DB Oil Fund during the third quarter valued at about $143,000. BNP Paribas Financial Markets increased its stake in shares of Invesco DB Oil Fund by 1,584.7% in 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 raised 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 valued at $2,340,000 after purchasing 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.