Short Interest in Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Declines By 60.8%

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 12,678 shares, a drop of 60.8% from the August 15th total of 32,380 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 133,845 shares, the short-interest ratio is currently 0.1 days.

Invesco Oil & Gas Services ETF Trading Up 2.1%

PXJ stock traded up $0.96 on Tuesday, hitting $47.20. 15,832 shares of the company’s stock traded hands, compared to its average volume of 52,782. The stock has a market cap of $69.38 million, a price-to-earnings ratio of 9.62 and a beta of 0.78. Invesco Oil & Gas Services ETF has a 1-year low of $25.56 and a 1-year high of $48.28. The stock has a fifty day moving average of $43.99 and a 200-day moving average of $42.79.

Hedge Funds Weigh In On Invesco Oil & Gas Services ETF

A number of institutional investors have recently bought and sold shares of PXJ. Bank of America Corp DE lifted its stake in Invesco Oil & Gas Services ETF by 1,933.6% during the first quarter. Bank of America Corp DE now owns 143,148 shares of the company’s stock valued at $5,933,000 after buying an additional 136,109 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Invesco Oil & Gas Services ETF in the first quarter worth approximately $466,000. Independent Financial Group LLC acquired a new stake in shares of Invesco Oil & Gas Services ETF during the first quarter valued at approximately $460,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Invesco Oil & Gas Services ETF during the first quarter valued at approximately $376,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Invesco Oil & Gas Services ETF in the 1st quarter valued at approximately $240,000.

More Invesco Oil & Gas Services ETF News

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

• Positive Sentiment: Physical oil cargoes in Europe have exceeded $130 per barrel as buyers seek alternatives to disrupted Middle Eastern supplies. Sustained oil-price strength could support higher exploration, drilling, and production activity—positive for many of PXJ’s holdings. Some physical oil cargoes top $130 a barrel, nearing April’s record, on Saudi disruptions
• Positive Sentiment: Oil futures remain supported after a drone attack damaged Saudi Arabia’s East-West pipeline, while heightened Houthi activity threatens Red Sea shipping. The resulting supply-risk premium is bullish for oil prices and could encourage producers to raise capital spending on services. Oil Futures Rise on Continuing Supply Disruption Worries
• Positive Sentiment: Industry executives warn that global fuel supplies are becoming increasingly tight, while U.S. Strategic Petroleum Reserve inventories have fallen to their lowest level since 1982. Tight inventories and limited near-term replacement supply strengthen the longer-term case for upstream investment and oilfield-services demand. Oil Executives Say the Great Fuel Crisis Is Here
• Negative Sentiment: Higher oil prices are increasingly linked with rising Treasury yields and inflation concerns, which could tighten financial conditions and pressure broader equities. A worsening macroeconomic environment may limit PXJ’s gains even as energy fundamentals improve. Oil and Treasury yields haven’t moved this closely in seven years. That’s bad news for markets

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.