Invesco DB Oil Fund (NYSEARCA:DBO) Shares Up 10.2% – Here’s What Happened

Shares of Invesco DB Oil Fund (NYSEARCA:DBO) shot up 10.2% on Wednesday . The stock traded as high as $13.32 and last traded at $13.32. 1,414,204 shares traded hands during trading, an increase of 288% from the average session volume of 364,298 shares. The stock had previously closed at $12.09.

Invesco DB Oil Fund Stock Up 10.2 %

The firm has a 50 day moving average of $13.90 and a two-hundred day moving average of $14.34. The firm has a market capitalization of $197.80 million, a price-to-earnings ratio of 2.67 and a beta of 0.36.

Institutional Trading of Invesco DB Oil Fund

A number of hedge funds have recently added to or reduced their stakes in DBO. Wells Fargo & Company MN raised its holdings in Invesco DB Oil Fund by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,711,175 shares of the company’s stock valued at $24,487,000 after buying an additional 139,373 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in Invesco DB Oil Fund in the 4th quarter valued at approximately $1,783,000. Jane Street Group LLC raised its stake in shares of Invesco DB Oil Fund by 445.5% during the fourth quarter. Jane Street Group LLC now owns 66,948 shares of the company’s stock valued at $958,000 after acquiring an additional 54,676 shares during the last quarter. LPL Financial LLC raised its stake in shares of Invesco DB Oil Fund by 39.5% during the fourth quarter. LPL Financial LLC now owns 184,412 shares of the company’s stock valued at $2,639,000 after acquiring an additional 52,198 shares during the last quarter. Finally, Narus Financial Partners LLC lifted its holdings in shares of Invesco DB Oil Fund by 21.0% during the fourth quarter. Narus Financial Partners LLC now owns 202,750 shares of the company’s stock worth $2,901,000 after purchasing an additional 35,254 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.