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Invesco DB Precious Metals Fund (IVZ-1.06%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in net asset value per share to $63.93 from $57.40 at the beginning of the period. The increase is attributed to rising commodity futures contracts prices for gold and silver.
The fund reported a net income of $18.0 million for the quarter, primarily resulting from $2.2 million in income, $0.8 million in net realized gains, and $15.3 million in net change in unrealized gains.
Total assets of the fund increased to $179,995,214 from $148,571,866 at the end of the previous year, with investments in United States Treasury Obligations and affiliated investments contributing to this growth.
Net cash flow provided by operating activities was $6.5 million for the nine months ended September 30, 2024, primarily due to net income and net purchases and sales of investments.
The fund's market value per share increased to $63.76 from $57.29 at the beginning of the quarter, reflecting an 11.29% total return on a market value basis.
The fund's strategy involves investing in a portfolio of exchange-traded commodity futures contracts to track the DBIQ Optimum Yield Precious Metals Index Excess Return, which includes gold and silver.
During the quarter, the fund's exposure to market risk was primarily influenced by changes in the prices of gold and silver, with gold comprising 79.72% of the fund's weight and silver 20.28%.
The fund's liquidity is supported by its holdings in United States Treasury Obligations, money market mutual funds, and T-Bill ETFs, which are used for margin and cash management purposes.
The filing also details the fund's financial agreements, including arrangements with the Commodity Broker and Custodian, and notes that there were no significant changes in internal control over financial reporting during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Invesco DB Precious Metals Fund quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.