Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Short Interest Update

Invesco Oil & Gas Services ETF (NYSEARCA:PXJGet Free Report) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 32,380 shares, an increase of 2,277.4% from the July 30th total of 1,362 shares. Based on an average daily volume of 27,089 shares, the short-interest ratio is presently 1.2 days. Approximately 2.2% of the company’s shares are sold short.

Key Stories Impacting Invesco Oil & Gas Services ETF

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

  • Positive Sentiment: Energy-market tightness remains a potential support: fewer than 20 commodity vessels reportedly transited the Strait of Hormuz over the weekend, while the IEA said it is not currently discussing another strategic oil-reserve release. Prolonged disruptions could keep crude prices elevated and support oilfield-services demand. IEA not discussing a second strategic oil reserve release Fewer than 20 ships transit the Strait of Hormuz
  • Neutral Sentiment: Expanded U.S. sanctions against Iran could restrict supply and support crude prices, but investors are weighing whether sanctions will be effectively enforced and how much oil can continue moving through Hormuz. Oil prices steady as investors assess Iran sanctions
  • Negative Sentiment: Crude prices extended their decline after Iran resumed talks with Oman on managing the Strait of Hormuz. Reports that the United States removed mines from the waterway, along with Pakistan-led mediation, raised hopes of improved energy flows and added pressure to oil prices. Lower oil prices can delay drilling projects and reduce customer spending on the services companies held by PXJ. Oil prices extend losses on hopes of Iran-Oman talks Oil retreats as Hormuz concerns ease
  • Negative Sentiment: Short interest in PXJ rose sharply to 32,380 shares, or about 2.2% of shares outstanding, from 1,362 shares previously. Although the short-interest ratio is only 1.2 days, the increase signals greater bearish positioning and may weigh on sentiment.

Institutional Trading of Invesco Oil & Gas Services ETF

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Invesco Oil & Gas Services ETF during the 2nd quarter valued at $42,000. Quantinno Capital Management LP acquired a new stake in Invesco Oil & Gas Services ETF in the first quarter worth $240,000. MinichMacGregor Wealth Management LLC bought a new stake in Invesco Oil & Gas Services ETF in the first quarter valued at $376,000. Jefferies Financial Group Inc. increased its stake in Invesco Oil & Gas Services ETF by 14.2% in the third quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock valued at $424,000 after purchasing an additional 1,941 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Invesco Oil & Gas Services ETF by 16.2% in the fourth quarter. LPL Financial LLC now owns 15,385 shares of the company’s stock valued at $452,000 after purchasing an additional 2,147 shares in the last quarter.

Invesco Oil & Gas Services ETF Price Performance

NYSEARCA PXJ opened at $45.50 on Wednesday. The stock has a market capitalization of $66.89 million, a P/E ratio of 9.62 and a beta of 0.76. The business has a 50 day simple moving average of $41.95 and a 200 day simple moving average of $42.02. Invesco Oil & Gas Services ETF has a one year low of $25.56 and a one year high of $47.11.

Invesco Oil & Gas Services ETF Company Profile

(Get Free Report)

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.

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