Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Short Interest Update
by Scott Moore · The Cerbat GemInvesco Oil & Gas Services ETF (NYSEARCA:PXJ – Get Free Report) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 950 shares, a drop of 90.4% from the June 30th total of 9,877 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 53,646 shares, the short-interest ratio is currently 0.0 days.
Invesco Oil & Gas Services ETF Price Performance
Shares of NYSEARCA PXJ traded up $0.39 during mid-day trading on Friday, reaching $42.59. 10,342 shares of the company traded hands, compared to its average volume of 49,840. Invesco Oil & Gas Services ETF has a fifty-two week low of $24.30 and a fifty-two week high of $47.11. The firm has a market cap of $66.01 million, a PE ratio of 9.62 and a beta of 0.76. The stock has a fifty day simple moving average of $41.91 and a 200-day simple moving average of $40.36.
Key Headlines Impacting Invesco Oil & Gas Services ETF
Here are the key news stories impacting Invesco Oil & Gas Services ETF this week:
- Positive Sentiment: Oil prices remain elevated after a surge tied to escalating Middle East and Black Sea shipping risks, which is supportive for oilfield services and drilling-related names like PXJ. Oil prices rise to six-week high as US-Iran tensions escalate
- Positive Sentiment: Reports that physical crude cargoes are jumping and some prices are nearing $110 a barrel suggest tight prompt supply, a backdrop that can lift demand for oil-services companies if producers ramp up activity. Physical oil prices jump with some nearing $110 as Iran, Ukraine wars hit supply
- Positive Sentiment: Multiple outlets noted that oil is still trading near or above the key $100 level despite some profit-taking, keeping the broader energy trade intact and supporting PXJ’s sector exposure. Oil Futures Edge Lower on Likely Technical Correction
- Neutral Sentiment: Stocks broadly stabilized as oil retreated on hopes for peace talks, which may temper some of the recent energy-driven upside if geopolitical risk eases. U.S. Stocks Stabilize as Oil Retreats on Peace Talk Hopes
- Neutral Sentiment: Some analysts warned that oil’s pullback may be a technical correction after the recent spike, suggesting near-term volatility rather than a clear trend reversal. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats 4% On Profit-Taking
Hedge Funds Weigh In On Invesco Oil & Gas Services ETF
Several hedge funds have recently modified their holdings of PXJ. Bank of America Corp DE lifted its holdings 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 valued at $5,933,000 after buying an additional 136,109 shares during the period. Quantinno Capital Management LP bought a new position in Invesco Oil & Gas Services ETF during the first quarter valued at about $240,000. Independent Financial Group LLC acquired a new position in Invesco Oil & Gas Services ETF during the first quarter worth about $460,000. Private Advisor Group LLC acquired a new position in Invesco Oil & Gas Services ETF during the first quarter worth about $466,000. Finally, MinichMacGregor Wealth Management LLC bought a new stake in Invesco Oil & Gas Services ETF in the first quarter worth about $376,000.
About Invesco Oil & Gas Services ETF
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.