Invesco DB Base Metals Fund (NYSEARCA:DBB) Sees Significant Increase in Short Interest

Invesco DB Base Metals Fund (NYSEARCA:DBB) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 927,823 shares, an increase of 762.3% from the April 30th total of 107,598 shares. Currently, 7.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 433,339 shares, the days-to-cover ratio is currently 2.1 days.

Invesco DB Base Metals Fund Price Performance

Shares of DBB opened at $25.73 on Thursday. The firm has a market cap of $319.05 million, a P/E ratio of 3.20 and a beta of 0.51. The stock has a 50 day simple moving average of $24.60 and a two-hundred day simple moving average of $23.66. Invesco DB Base Metals Fund has a 1 year low of $17.81 and a 1 year high of $26.49.

Institutional Trading of Invesco DB Base Metals Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in Invesco DB Base Metals Fund by 1,518.5% in the second quarter. The Manufacturers Life Insurance Company now owns 335,433 shares of the company’s stock valued at $6,497,000 after purchasing an additional 314,708 shares during the last quarter. Bank of America Corp DE lifted its position in Invesco DB Base Metals Fund by 70.7% in the first quarter. Bank of America Corp DE now owns 383,287 shares of the company’s stock valued at $9,007,000 after purchasing an additional 158,721 shares during the last quarter. Wells Fargo & Company MN lifted its position in Invesco DB Base Metals Fund by 49.8% in the fourth quarter. Wells Fargo & Company MN now owns 440,486 shares of the company’s stock valued at $10,105,000 after purchasing an additional 146,416 shares during the last quarter. Leo Wealth LLC bought a new stake in Invesco DB Base Metals Fund in the fourth quarter valued at approximately $1,364,000. Finally, Sanctuary Advisors LLC bought a new stake in Invesco DB Base Metals Fund in the first quarter valued at approximately $1,207,000. Hedge funds and other institutional investors own 40.73% of the company’s stock.

About Invesco DB Base Metals Fund

PowerShares DB Base Metals Fund (the Fund) is a separate series of PowerShares DB Multi-Sector Commodity Trust (the Trust), a Delaware statutory trust organized in seven separate series. The Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Industrial Metals 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.