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Invesco DB Energy Fund (DBE) Hits a 52-Week High
For investors looking for momentum, Invesco DB Energy Fund (DBE - Free Report) is probably a suitable pick. DBE just hit a 52-week high and is up 105.7% from its 52-week low price of $14.03/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
DBE in Focus
Invesco DB Energy Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Energy Index Excess Return (DBIQ Opt Yield Energy Index ER or Index) plus the interest income from the fund's holdings of primarily US Treasury securities and money market income less the fund's expenses. DBE has an AUM of $295.8 million and charges 77 basis points in annual fees.
Why the Move?
The energy space has been a prime investment area, holding the interest of market participants since the beginning of the year. Reopening global economies, accelerating coronavirus vaccine rollout and improving labor markets were adding to the sector’s strength. The rally in oil prices due to the Russia-Ukraine crisis raised the sector’s momentum.This is making funds like DBE an impressive investment option.
More Gains Ahead?
It seems as if the Invesco DB Energy Fund will remain strong, with a positive weighted alpha of 105.20, which gives cues of a further rally.