Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Sees Significant Drop in Short Interest

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 12,103 shares, a drop of 63.2% from the May 31st total of 32,857 shares. Based on an average daily trading volume, of 17,026 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Trading of Invesco Oil & Gas Services ETF

Several large investors have recently added to or reduced their stakes in PXJ. Bank of America Corp DE boosted its position in shares of Invesco Oil & Gas Services ETF by 1,933.6% in the first quarter. Bank of America Corp DE now owns 143,148 shares of the company’s stock worth $5,933,000 after buying an additional 136,109 shares during the period. Goldman Sachs Group Inc. raised its position in Invesco Oil & Gas Services ETF by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 56,392 shares of the company’s stock valued at $1,655,000 after buying an additional 937 shares during the period. Tower Research Capital LLC TRC lifted its stake in Invesco Oil & Gas Services ETF by 354.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,685 shares of the company’s stock worth $482,000 after acquiring an additional 13,792 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in Invesco Oil & Gas Services ETF by 14.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock worth $424,000 after acquiring an additional 1,941 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Invesco Oil & Gas Services ETF by 16.2% during the 4th quarter. LPL Financial LLC now owns 15,385 shares of the company’s stock worth $452,000 after acquiring an additional 2,147 shares during the period.

Invesco Oil & Gas Services ETF Stock Down 0.4%

Shares of Invesco Oil & Gas Services ETF stock traded down $0.14 during trading on Tuesday, hitting $38.55. The stock had a trading volume of 51,687 shares, compared to its average volume of 51,564. Invesco Oil & Gas Services ETF has a 1 year low of $23.52 and a 1 year high of $47.11. The stock has a 50 day simple moving average of $43.29 and a 200 day simple moving average of $39.02. The company has a market capitalization of $115.65 million, a PE ratio of 9.62 and a beta of 0.74.

Invesco Oil & Gas Services ETF News Summary

Here are the key news stories impacting Invesco Oil & Gas Services ETF this week:

• Positive Sentiment: Crude oil found support around key technical levels, which could help stabilize energy sentiment if buyers defend the current floor. Crude Oil Price Analysis – Crude Oil Continues to See Support on Tuesday
• Positive Sentiment: Middle East supply risks remain in the background, with reports of ship attacks and Strait of Hormuz concerns keeping a possible geopolitical premium in place for oil prices. Middle East producers push on with oil, LNG loadings despite ship attacks
• Neutral Sentiment: Oil markets are trying to stabilize as strong U.S. production and refinery demand offset some of the recent selling pressure. Natural Gas and Oil Forecast: Oil Markets Stabilize on Strong US Production and Refinery Demand — NatGas Channel Holds?
• Neutral Sentiment: U.S.–Iran negotiations and related talk of a reduced war premium are creating uncertainty, leaving traders focused on whether oil can hold current support. Oil falls as investors focus on potential Iran-US talks in Doha
• Negative Sentiment: Oil has been losing ground as negotiations in Doha ease the geopolitical risk premium, a negative for oil-services equities like PXJ. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As U.S. Negotiators Arrive In Doha
• Negative Sentiment: Several reports suggest crude has broken below key moving averages and that analysts are turning more cautious on oil prices, which could continue to pressure PXJ. Crude Oil Price Forecast: Bearish Pressure Meets Key Support

Invesco Oil & Gas Services ETF Company Profile

The Invesco Dynamic Oil & Gas Services ETF (PXJ) is an exchange-traded fund that mostly invests in energy equity. The fund tracks an index of US companies in the oil and gas services sector that are weighted in tiers. The index uses a multi-factor methodology to select holdings. PXJ was launched on Oct 26, 2005 and is managed by Invesco.