The Invesco DB Agriculture Fund (NYSEARCA:DBA) experienced a notable increase in short interest, rising by an impressive 204.0% during February. As of February 13, 2024, short interest reached a total of 186,376 shares, compared to just 61,316 shares on January 29, 2024. This dramatic shift signals heightened investor speculation regarding the fund’s performance.
The current short-interest ratio stands at 0.8 days, based on the average daily trading volume of 241,654 shares. Approximately 0.7% of the company’s total shares are sold short, indicating a growing interest among investors to bet against the fund.
In terms of stock performance, shares of the Invesco DB Agriculture Fund traded down by $0.03 to reach $26.02 during mid-day trading on a recent Friday. The trading volume for the day was 193,382 shares, which is below the average of 277,574 shares. The fund has recorded a fifty-two week low of $25.27 and a high of $28.01. With a market capitalization of $732.46 million, the fund holds a price-to-earnings (P/E) ratio of 11.32 and a beta of 0.21. The fund’s fifty-day moving average is $25.74, while the two-hundred-day moving average is $26.38.
Institutional Investments in the Fund
Recent activity among institutional investors reflects varied confidence in the Invesco DB Agriculture Fund. Notably, Quadrature Capital Ltd acquired a new stake in the fund during the second quarter, valued at $5,671,000. Meanwhile, Steward Partners Investment Advisory LLC increased its stake by 2.8%, owning 43,381 shares worth $1,134,000 after acquiring an additional 1,202 shares.
Investment firm Duff & Phelps Investment Management Co. significantly lifted its holdings by 130.6%, now possessing 20,525 shares valued at $537,000 after adding 11,625 shares during the last quarter. Similarly, Rockefeller Capital Management L.P. increased its position by 4.5%, currently holding 61,559 shares with a total value of $1,610,000 after buying an additional 2,658 shares. Lastly, Itau Unibanco Holding S.A. also boosted its stake by 1.3%, now owning 168,400 shares worth $4,404,000.
Overall, institutional investors and hedge funds collectively own 38.63% of the Invesco DB Agriculture Fund, reflecting a significant interest in the fund’s potential for growth.
About Invesco DB Agriculture Fund
The Invesco DB Agriculture Fund is part of the PowerShares DB Multi-Sector Commodity Trust. The fund offers common units of beneficial interest exclusively to eligible financial institutions, known as Authorized Participants, in blocks of 200,000 shares, referred to as a Basket. The proceeds from these offerings are directed into the DB Agriculture Master Fund, a separate entity designed to manage agricultural commodity investments.
As the landscape of agricultural investments continues to evolve, the significant shift in short interest may indicate a critical moment for the fund and its investors.
