Invesco DB Oil Fund (NYSEARCA:DBO) Shares Up 0.8% – Here’s Why

Invesco DB Oil Fund (NYSEARCA:DBO) shot up 0.8% during mid-day trading on Tuesday. The company traded as high as $23.66 and last traded at $23.64. 393,637 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 946,877 shares. The stock had previously closed at $23.46.

Key Headlines Impacting Invesco DB Oil Fund

Here are the key news stories impacting Invesco DB Oil Fund this week:

• Positive Sentiment: Oil prices rose more than 2% as Houthi attacks on Saudi Arabia, tanker strikes in the Persian Gulf and Hurricane Isaias threatened Middle Eastern and U.S. Gulf production. Brent traded above $104 a barrel, strengthening the near-term outlook for oil-linked funds. Oil Prices Rise More Than 2% Amid Houthi Attacks, U.S. Gulf Shut-Ins
• Positive Sentiment: U.S. crude inventories unexpectedly fell by 3.2 million barrels to 424.1 million barrels, while refinery demand and broader signs of tight global supplies provided additional support for WTI and Brent. U.S. Crude Oil Stockpiles Post Weekly Drop
• Positive Sentiment: Reduced traffic through the Strait of Hormuz and reports that global stockpile buffers are severely depleted highlight the potential for a sharper supply squeeze if regional hostilities worsen. Hormuz Transits at Lowest in Over Two Months After Attacks
• Neutral Sentiment: Analysts continue to identify supply risks from Middle East tensions and Gulf storms, but WTI and Brent must clear nearby technical resistance to extend their advance. Crude Oil Price Forecast – Oil Continues to See Multiple Pressures
• Negative Sentiment: Higher oil prices are renewing inflation concerns, lifting Treasury yields and supporting the dollar. Markets are reassessing the possibility of additional Federal Reserve rate increases, which could pressure risk assets and increase volatility in DBO. Oil Surge and European Debt Fears Pressure Global Markets

Invesco DB Oil Fund Price Performance

The stock has a market capitalization of $290.59 million, a PE ratio of 2.38 and a beta of 0.14. The stock’s 50 day simple moving average is $22.74 and its two-hundred day simple moving average is $21.27.

Institutional Investors Weigh In On Invesco DB Oil Fund

Several large investors have recently bought and sold shares of DBO. Roxbury Financial LLC acquired a new stake in Invesco DB Oil Fund during the 1st quarter worth $122,000. Forty three Eighteen Advisors LLC acquired a new position in Invesco DB Oil Fund in the fourth quarter valued at $137,000. Narus Financial Partners LLC boosted its holdings in Invesco DB Oil Fund by 9.5% in the first quarter. Narus Financial Partners LLC now owns 144,284 shares of the company’s stock valued at $2,838,000 after acquiring an additional 12,499 shares during the last quarter. Cadence Wealth Management LLC acquired a new position in shares of Invesco DB Oil Fund during the 1st quarter valued at $282,000. Finally, Cetera Investment Advisers boosted its position in Invesco DB Oil Fund by 84.5% in the 1st quarter. Cetera Investment Advisers now owns 81,285 shares of the company’s stock valued at $1,599,000 after buying an additional 37,232 shares during the last quarter.

Invesco DB Oil Fund Company Profile

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.