Short Interest in Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Decreases By 90.4%

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the recipient of a significant drop in short interest during the month of 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. Based on an average trading volume of 53,646 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Invesco Oil & Gas Services ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Invesco Oil & Gas Services ETF during the second quarter worth about $42,000. Sound Income Strategies LLC purchased a new stake in Invesco Oil & Gas Services ETF in the 4th quarter valued at about $47,000. Quantinno Capital Management LP purchased a new stake in Invesco Oil & Gas Services ETF in the 1st quarter valued at about $240,000. MinichMacGregor Wealth Management LLC acquired a new position in shares of Invesco Oil & Gas Services ETF during the 1st quarter valued at about $376,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of Invesco Oil & Gas Services ETF by 14.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock valued at $424,000 after acquiring an additional 1,941 shares during the last quarter.

Invesco Oil & Gas Services ETF Price Performance

PXJ stock traded up $0.39 during midday trading on Friday, hitting $42.59. The stock had a trading volume of 10,342 shares, compared to its average volume of 49,840. The company’s 50-day moving average price is $41.86 and its 200 day moving average price is $40.38. The firm has a market cap of $66.01 million, a PE ratio of 9.62 and a beta of 0.76. Invesco Oil & Gas Services ETF has a 12-month low of $24.30 and a 12-month high of $47.11.

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

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.